Replies to post #3901 on Gilead Sciences Inc (GILD)

[Tha Part Time Er]

Shares of Gilead Sciences Inc. GILD, -0.21% were down 0.4% in premarket trading on Wednesday after the drugmaker said it inked a 10-year deal to develop and commercialize Arcus Biosciences Inc.'s RCUS, -6.26% investigational immuno-oncology therapies. Arcus's stock was down 7.5% before the market opened. Gilead will make a $175 million upfront payment and take a $200 million equity stake, and an additional $1.6 billion will be available for milestone payments and R&D funding. Last month people familiar with the matter told Bloomberg News that Gilead was considering a stake in Arcus. The deal is expected to close in the third quarter. Since the start of the year, Gilead's stock has gained 12.6%, after a series of rallies spurred by the market response to its COVID-19 treatment remdesivir getting emergency authorization from the Food and Drug Administration. Year-to-date, shares of Arcus have soared 232.1%, and the S&P 500 SPX, +1.22% is down 7.4%.