Followers | 91 |
Posts | 3296 |
Boards Moderated | 0 |
Alias Born | 10/18/2010 |
Monday, July 27, 2020 9:12:36 AM
Tecartus, which is a chimeric antigen receptor (CAR) T cell therapy, will be produced in Kite’s commercial manufacturing facility in California. MCL is a rare form of lymphoma that arises from cells originating in the “mantle zone” of the lymph node and predominantly affects men over the age of 60. MCL is highly aggressive following relapse, with many patients progressing following therapy.
“Kite is committed to bringing the promise of CAR T therapy to patients with hematological cancers, and as such, we are proud to launch our second cell therapy,” said Kite CEO Christi Shaw. “We look forward to partnering with the lymphoma community to deliver this potentially transformative therapy to patients with relapsed or refractory MCL.”
The approval of the one-time therapy follows a priority review and FDA Breakthrough Therapy Designation and is based on results of an open-label study in which 87% of patients responded to a single infusion of Tecartus, including 62% of patients showing a complete response (CR). Among patients evaluated for safety, 18% experienced grade 3 or higher cytokine release syndrome (CRS) and 37% experienced grade 3 or higher neurologic toxicities.
Five-star analyst Evan Seigerman at Credit Suisse on July 24 upgraded Gilead to Hold from Sell with a $75 price target based mainly on the potential opportunity and contribution of remdesivir - the company’s experimental antiviral for the treatment of Covid-19 - on earnings this year. The analyst expects remdesivir will help the revenue trajectory in 2H.
“While the company will have at least 2M treatment courses by year-end - we do not expect $6B in incremental revenue (a portion was donated at no cost and other supply was used in trials),” Seigerman wrote in a note to investors. “We forecast a modest $1.9B, increasing to $5B in 2021 (treatment + stockpiling, even with other therapeutics expected and the potential for vaccines by 2021).”
Seigerman expects Gilead at its 2Q results, which are scheduled to be released on July 30, to update guidance to include revenues from remdesivir.
“We could see an uptick in R&D numbers for 2Q given the investment in remdesivir (even ahead of projected revenues in 3Q/4Q),” Seigerman added. “We’re not changing our numbers ahead of the quarter, but rather highlighting potential areas of softness heading into the print.”
The rest of the Street is cautiously optimistic on the stock with a Moderate Buy consensus based on 8 Buy ratings, 12 Holds and 2 Sells.
Recent GILD News
- EFFICACITÉ DE 100 % ET SUPÉRIORITÉ AVÉRÉES DU LÉNACAPAVIR DE GILEAD UTILISÉ DEUX FOIS PAR AN PAR RAPPORT À TRUVADA (MD) UNE FOIS PAR JOUR POUR LA PRÉVENTION DU VIH • PR Newswire (Canada) • 06/26/2024 02:45:00 PM
- Honeywell Acquires CAES Systems for $1.9 Billion, Sarepta Therapeutics Surges 34%, Gilead Continues Gains • IH Market News • 06/21/2024 12:00:38 PM
- Gilead’s Twice-Yearly Lenacapavir Demonstrated 100% Efficacy and Superiority to Daily Truvada® for HIV Prevention • Business Wire • 06/20/2024 12:51:00 PM
- Goldman Sachs Raises S&P 500 Forecast for 2024; Disney Secures Deadpool & Wolverine in Chinese Cinemas, and More • IH Market News • 06/17/2024 10:49:12 AM
- New Kite Clinical Research and Real-World Evidence for Yescarta® Demonstrate Benefit From Earlier Lines of Treatment • Business Wire • 06/14/2024 07:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 11:25:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 11:23:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 11:20:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 11:18:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 11:15:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 11:12:00 PM
- Gilead Announces New England Journal of Medicine Publication of Data that Demonstrate Bulevirtide with PegIFN Achieved Post-Treatment Undetectable HDV RNA • Business Wire • 06/06/2024 08:30:00 AM
- Gilead’s Seladelpar Demonstrated a Sustained and Consistent Long-Term Efficacy and Safety Profile in Primary Biliary Cholangitis • Business Wire • 06/05/2024 06:00:00 AM
- Kite’s Tecartus® Demonstrates Sustained Overall Survival in Adult Patients With Relapsed/Refractory B-cell Acute Lymphoblastic Leukemia • Business Wire • 06/03/2024 02:00:00 PM
- Encouraging New Data Presented on Kite’s Yescarta® for Relapsed/Refractory Central Nervous System Lymphoma • Business Wire • 06/03/2024 01:00:00 PM
- Gilead and Arcus Announce Etrumadenant Plus Zimberelimab Regimen Significantly Reduced the Risk of Death in Third-line Metastatic Colorectal Cancer • Business Wire • 06/02/2024 12:00:00 PM
- Gilead and Arcus Announce Etrumadenant Plus Zimberelimab Regimen Significantly Reduced the Risk of Death in Third-line Metastatic Colorectal Cancer • Business Wire • 06/02/2024 12:00:00 PM
- Gilead and Arcus Announce Anti-TIGIT Domvanalimab Plus Zimberelimab and Chemotherapy Exceeded One Year of Median Progression-Free Survival as a First-Line Treatment for Upper GI Cancers • Business Wire • 06/01/2024 12:00:00 PM
- Gilead and Arcus Announce Anti-TIGIT Domvanalimab Plus Zimberelimab and Chemotherapy Exceeded One Year of Median Progression-Free Survival as a First-Line Treatment for Upper GI Cancers • Business Wire • 06/01/2024 12:00:00 PM
- EVOKE-01 Study Results in Metastatic NSCLC to Be Presented at an Oral Session at ASCO 2024 • Business Wire • 05/31/2024 12:07:00 PM
- Gilead Provides Update on Phase 3 TROPiCS-04 Study • Business Wire • 05/30/2024 08:45:00 PM
- Gilead to Present Latest Research Across Key Liver Disease Indications at the European Association for the Study of the Liver Congress 2024 • Business Wire • 05/22/2024 12:30:00 PM
- Investigational Seladelpar Demonstrates Significant Improvements in Liver Disease Progression and Reduced Itching in Primary Biliary Cholangitis • Business Wire • 05/18/2024 12:30:00 PM
- Kite Data at EHA 2024 Demonstrate Positive Patient Outcomes and Advances in Delivery of CAR T-cell Therapy • Business Wire • 05/14/2024 02:09:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/09/2024 09:57:24 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM