GILEAD SCIENCES, INC.
GILD evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for GILD—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · GILD
Gilead Sciences is a biopharmaceutical company focused on the discovery, development, and commercialization of innovative medicines in virology, oncology, and inflammation, with a pipeline of over 50 clinical-stage programs and several upcoming Phase 3 readouts.
Key risk: Clinical trial failure risk
BioSniper Score
Based on 6 of 6 signals
Market Cap
$180.64B
Cash Runway
—
Lead Asset
lenacapavir (Phase 3)
Next Catalyst
Phase3_Topline · Mar 1, 2027Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 34 clinical trials · 19 catalysts · 1 FDA decision for GILEAD SCIENCES, INC..
Gilead Sciences is a biopharmaceutical company focused on the discovery, development, and commercialization of innovative medicines in virology, oncology, and inflammation, with a pipeline of over 50 clinical-stage programs and several upcoming Phase 3 readouts.
- Gilead operates as a single segment focused on innovative medicines in areas of unmet medical need, with the CEO using net income as the primary performance measure [sec_mda · as of 2026-05-07].
- As of year-end 2025, the company had 53 clinical-stage programs and expects five pivotal Phase 3 readouts in 2026, with up to 10 potential product or indication launches by end of 2027 [sec · filed 2026-03-20].
- Latest financials (as of 2026-06-30) show cash & equivalents of $3,179.0M, total revenue of $7,803.0M, net income of -$10,496.0M, shareholders' equity of $19,330.0M, and total debt of $28,660.0M [sec].
- Gilead relies on third-party contract research organizations for most clinical trial activities, including site management and patient enrollment [sec_mda · as of 2026-02-24].
- The company faces significant competition from large pharmaceutical and biotechnology companies, specialized firms, and generic manufacturers, competing on efficacy, safety, price, and reimbursement [sec_mda · as of 2026-02-24].
What works
- Gilead has a deep pipeline with 53 clinical-stage programs and multiple upcoming Phase 3 readouts across HIV, oncology, and inflammation, indicating a broad R&D effort [sec · filed 2026-03-20].
- The company is advancing long-acting HIV regimens, including lenacapavir with daily, weekly, monthly, twice-yearly, and yearly formulations, potentially addressing adherence challenges [sec · filed 2026-03-20].
- Gilead has a history of strong financial performance and disciplined expense management, with liver disease portfolio sales of $3.0 billion in 2024, up 9% from 2023 [sec · filed 2025-03-27].
- The company actively pursues strategic collaborations and acquisitions to enhance its pipeline, such as AI-driven drug discovery partnerships with Genesis Therapeutics and Terray Therapeutics [sec · filed 2025-03-27].
What to weigh
- Gilead reported a net loss of $10,496.0M as of 2026-06-30, reflecting significant expenses or impairments, with high total debt of $28,660.0M [sec].
- The company faces a high rate of failure inherent in drug development, with failures possible at any stage, potentially leading to unrecoverable R&D and acquisition costs [sec_mda · as of 2026-02-24].
- Gilead relies heavily on third-party CROs for clinical trials, which introduces risks of delays or disruptions beyond its direct control [sec_mda · as of 2026-02-24].
- Intense competition from large pharma, biotech, and generic manufacturers pressures Gilead's products on efficacy, safety, price, and reimbursement [sec_mda · as of 2026-02-24].
From the filings
Quoted directly from source documents.
Gilead had 53 clinical-stage programs by end of 2025 and expects five pivotal Phase 3 readouts in 2026.
“53 clinical stage programs by the end of 2025”
SEC filings · March 20, 2026
Gilead relies on third-party CROs for most clinical trial activities.
“We extensively outsource our clinical trial activities and usually perform only a small portion of start-up activities in-house.”
SEC MD&A · February 24, 2026
Gilead faces significant competition from large pharmaceutical and biotechnology companies.
“We face significant competition from global pharmaceutical and biotechnology companies, specialized pharmaceutical firms and generic drug manufacturers.”
SEC MD&A · February 28, 2025
Gilead's liver disease portfolio sales were $3.0 billion in 2024, up 9% from 2023.
“$3.0 BILLION2024 Liver Disease Portfolio Sales”
SEC filings · March 27, 2025
Catalyst timeline
- 2027-03-01 · Phase3_Topline — Phase 3 topline data for a pharmacokinetics, safety, and efficacy study in an open-label, multicenter cohort.
- 2028-01-01 · Phase3_Topline — Phase 3 topline data for a double-blinded, randomized study evaluating safety and efficacy of a twice-yearly regimen.
- 2028-07-01 · Phase3_Topline · hiv-1 — Phase 3 topline data for an open-label, active-controlled study of an HIV-1 treatment.
- 2028-09-01 · Phase3_Topline — Phase 3 topline data for a single-arm study evaluating safety and pharmacokinetics of a once-yearly regimen.
- 2029-01-01 · Phase3_Topline — Phase 3 topline data for a randomized, open-label study of zimberelimab and domvanalimab in combination.
- 2029-06-01 · Phase3_Topline — Phase 3 topline data for an open-label, active-controlled study evaluating safety and efficacy.
- 2029-10-01 · Phase3_Topline · sacituzumab — Phase 3 topline data for sacituzumab govitecan versus standard of care in a global, randomized study.
- 2030-08-01 · Phase3_Topline — Phase 3 topline data for the AFFIRM study evaluating seladelpar in a randomized, placebo-controlled trial.
Risks & what to watch (4)›
Key risks
- Clinical trial failure risk — High failure rate in drug development; failures can occur late after substantial investment, impacting financial results [sec_mda · as of 2026-02-24].
- Heavy reliance on CROs — Outsourcing most clinical activities to third parties introduces risks of delays or disruptions [sec_mda · as of 2026-02-24].
- Intense market competition — Competition from large pharma, biotech, and generic firms on efficacy, safety, price, and reimbursement [sec_mda · as of 2026-02-24].
- High debt and net loss — Total debt of $28.66B and net loss of $10.5B as of 2026-06-30, indicating financial leverage and recent losses [sec].
What to watch
- Five pivotal Phase 3 readouts expected in 2026 across HIV, oncology, and inflammation [sec · filed 2026-03-20].
- Up to 10 potential product or indication launches by end of 2027, including Trodelvy in first-line mTNBC and anito-cel in R/R MM [sec · filed 2026-03-20].
- Advancement of lenacapavir as a yearly HIV regimen, with Phase 3 topline data expected in 2028-2029 [catalyst].
- Financial performance and debt management, given the recent net loss and high debt levels [sec].
Sources: Catalysts · SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
Run GILEAD SCIENCES, INC. through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
Your protocol can:
- Turn available GILEAD SCIENCES, INC. facts into screen rules or deeper checks
- Show cited findings, blockers, and unresolved evidence together
- Save the logic and rerun it as the company evidence changes
Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 3.17 · 0% dilution
Lead: Approved
2 candidates
19 upcoming, next in ~183d
0 buys · 34 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
2,296
Total value held
$137.48B
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 161,309,552 | $22.48B |
| blackrock, inc. | 119,010,973 | $16.59B |
| fmr llc | 71,906,290 | $10.02B |
| state street corp | 59,858,585 | $8.34B |
| vanguard portfolio management llc | 35,129,465 | $4.90B |
| geode capital management, llc | 29,726,052 | $4.14B |
| dodge & cox | 24,250,826 | $3.38B |
| morgan stanley | 23,299,295 | $3.25B |
| bank of america corp /de/ | 19,978,936 | $2.78B |
| bank of new york mellon corp | 15,066,951 | $2.10B |
Showing top 10 of 2,296 institutional holders of GILEAD SCIENCES, INC.. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 1.8%
- Days to cover
- 3.9
- Shares short
- 22,751,109
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
GILD short interestGovernance
Frequently asked questions
What is the AI investment thesis for GILEAD SCIENCES, INC.?
Gilead Sciences is a biopharmaceutical company focused on the discovery, development, and commercialization of innovative medicines in virology, oncology, and inflammation, with a pipeline of over 50 clinical-stage programs and several upcoming Phase 3 readouts.
What is GILEAD SCIENCES, INC.'s lead drug candidate?
GILEAD SCIENCES, INC.'s most advanced tracked candidate is lenacapavir (Phase 3) for HIV-1-infection; Pre-Exposure Prophylaxis of HIV Infection; HIV Infections.
What is GILEAD SCIENCES, INC.'s next catalyst?
GILEAD SCIENCES, INC.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Phase 2/3, Multicenter, Open-label, Multicohort Study Evaluating Pharmacokinetics (PK), Safety, an" — expected March 1, 2027.
Who is the CEO of GILEAD SCIENCES, INC.?
Mr. Daniel Patrick O'Day is the chief executive officer of GILEAD SCIENCES, INC. (GILD).
Where is GILEAD SCIENCES, INC. headquartered?
GILEAD SCIENCES, INC. (GILD) is headquartered in Foster City, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.