Will Gilead Q3 results bring positive surprise with focus on cancer portfolio?
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Gilead Sciences (NASDAQ:GILD) is scheduled to announce Q3 earnings results on Thursday, October 27th, after market close.
The consensus EPS Estimate is $1.43 (-46.0% Y/Y) and the consensus Revenue Estimate is $6.13B (-17.4% Y/Y).
Over the last 2 years, GILD has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time.
Over the last 3 months, EPS estimates have seen 5 upward revisions and 17 downward. Revenue estimates have seen 17 upward revisions and 2 downward.
The company's stock rose +4.59% on Aug. 3, the day after it reported its Q2 results (Aug. 2 post market), which beat estimates. Gilead raised its FY22 outlook following strong Y/Y sales results in its HIV and oncology franchises.

Earlier in October, J.P. Morgan upgraded the biotech to Overweight from Neutral, citing improved clarity on the company's HIV franchise and an emerging oncology franchise.
Gilead is acquiring remaining worldwide rights to breast/bladder cancer therapy Trodelvy from Everest Medicines. The company had inherited Trodelvy under its $21B acquisition of Immunomedics in 2020.
The scope for Trodelvy, which generated sales of $159M (+79% Y/Y) in Q2, is growing as the drug received FDA priority review in October for expanded use in breast cancer subtype. The drug has continued to shown benefit in several types of breast cancer and different trials.
The CAR-T therapy Yescarta recently received approval in the EU to treat a type of lymphoma. In September, a committee of the European Medicines Agency (EMA) recommended the approval of expanded use of COVID drug Veklury (remdesivir) and HIV drug Biktarvy.
Remdesivir, whose sales decreased by 46% Y/Y to $445M in Q2, was sent by the U.S. government to fight Ebola in Africa
The HIV therapy has shown sustained efficacy in new five-year data from two phase 3 trials.
Gilead is also undertaking licensing deals, as one signed to access Refuge Biotechnologies' gene expression platform to develop blood cancer therapies; and another with MacroGenics for potential cancer treatment MGD024.