Gilead sales grow but swings to loss after CymaBay buy
US biotech Gilead Sciences (Nasdaq: GILD) has announced its first-quarter 2024 financial results.
Sales at the Californian company hit $6.65 billion, a 5% rise on the same period of 2023 and ahead of the average analyst projection of $6.34 billion.
Gilead reported a first-quarter loss after taking a $3.9 billion charge for its recent acquisition of liver drug developer CymaBay Therapeutics, though the adjusted quarterly loss of $1.32 a share was still better than the $1.48 per share loss forecast by analysts.
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