Gilead Sciences Files Q3 2024 10-Q

TL;DR

Gilead's Q3 2024 10-Q is in. Check financials and legal updates.

AI Summary

Gilead Sciences, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial figures and business segment performance are presented, along with disclosures on legal matters and risk factors relevant to the company's ongoing operations.

Why It Matters

This filing provides investors and analysts with the latest financial health and strategic direction of Gilead Sciences, influencing investment decisions and market perception.

Risk Assessment

Risk Level: medium — The filing contains standard disclosures for a public company, including potential legal and operational risks, but no immediate crisis is indicated.

Key Numbers

• 2024-09-30 — Period End Date (Latest reported quarter)
• 2023-12-31 — Previous Year End Date (For comparison)
• 2024-01-01 — Year-to-Date Start Date (For year-to-date figures)
• 2023-01-01 — Previous Year-to-Date Start Date (For year-to-date comparison)

Key Players & Entities

• GILEAD SCIENCES, INC. (company) — Filer
• 20240930 (date) — Period of Report
• 20241112 (date) — Filing Date
• 333 LAKESIDE DR (address) — Business Address
• FOSTER CITY, CA (address) — Business Address City/State
• 94404 (zip_code) — Business Address Zip

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value, $0.001 per share GILD The Nasdaq Global Select

Filing Documents

• gild-20240930.htm (10-Q) — 2393KB
• gildq32024ex1041severancep.htm (EX-10.41) — 258KB
• gildq32024ex1051parseytran.htm (EX-10.51) — 122KB
• gildq32024ex311ceocertific.htm (EX-31.1) — 8KB
• gildq32024ex312cfocertific.htm (EX-31.2) — 8KB
• gildq32024ex32section906ce.htm (EX-32) — 6KB
• image_0a.jpg (GRAPHIC) — 5KB
• 0000882095-24-000028.txt ( ) — 11392KB
• gild-20240930.xsd (EX-101.SCH) — 58KB
• gild-20240930_cal.xml (EX-101.CAL) — 102KB
• gild-20240930_def.xml (EX-101.DEF) — 288KB
• gild-20240930_lab.xml (EX-101.LAB) — 717KB
• gild-20240930_pre.xml (EX-101.PRE) — 503KB
• gild-20240930_htm.xml (XML) — 2199KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36 PART II. OTHER INFORMATION 37 Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 3. Defaults Upon Senior Securities 52 Item 4. Mine Safety Disclosures 52 Item 5. Other Information 52 Item 6. Exhibits 52

SIGNATURES

SIGNATURES 57 We own or have rights to various trademarks, copyrights and trade names used in our business, including the following: GILEAD , GILEAD SCIENCES , KITE, AMBISOME , ATRIPLA , BIKTARVY , CAYSTON , COMPLERA , DESCOVY , DESCOVY FOR PREP , EMTRIVA , EPCLUSA , EVIPLERA , GENVOYA , HARVONI , HEPCLUDEX , HEPSERA , JYSELECA , LETAIRIS , LIVDELZI , ODEFSEY , SOVALDI , STRIBILD , SUNLENCA , TECARTUS , TRODELVY , TRUVADA , TRUVADA FOR PREP , TYBOST , VEKLURY , VEMLIDY , VIREAD , VOSEVI , YESCARTA and ZYDELIG . Other trademarks and trade names are the property of their respective owners. Certain amounts and percentages in this Quarterly Report on Form 10-Q may not sum or recalculate due to rounding. This Quarterly Report on Form 10-Q, including Part I, Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors, contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "hope," "intend," "may," "might," "plan," "project," "seek," "should," "target" and variations of such words and similar expressions are intended to identify such forward-looking statements. In addition, any statements other than statements of historical fact are forward-looking statements, including statements regarding overall trends; operating cost and revenue trends; liquidity and capital needs; plans and expectations with respect to products, product candidates, corporate strategy, business and operations, financial projections and the use of capital; collaboration and licensing arrangements; patent protection and estimated loss of exclusivity for our products and product candidates ; ongoing litigation and investigation matters; and other statements of exp

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Item 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS GILEAD SCIENCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in millions, except per share amounts) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 5,037 $ 6,085 Short-term marketable debt securities — 1,179 Accounts receivable, net 4,587 4,660 Inventories 1,869 1,787 Prepaid and other current assets 3,287 2,374 Total current assets 14,779 16,085 Property, plant and equipment, net 5,391 5,317 Long-term marketable debt securities — 1,163 Intangible assets, net 20,546 26,454 Goodwill 8,314 8,314 Other long-term assets 5,494 4,792 Total assets $ 54,525 $ 62,125 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 903 $ 550 Accrued rebates 4,113 3,802 Current portion of long-term debt and other obligations, net 1,812 1,798 Other current liabilities 4,896 5,130 Total current liabilities 11,725 11,280 Long-term debt, net 21,437 23,189 Long-term income taxes payable 782 2,039 Deferred tax liability 794 1,588 Other long-term obligations 1,396 1,280 Commitments and contingencies (Note 10) Stockholders' equity: Preferred stock, par value $ 0.001 per share; 5 shares authorized; no ne outstanding — — Common stock, par value $ 0.001 per share; 5,600 shares authorized; 1,246 shares issued and outstanding 1 1 Additional paid-in capital 7,327 6,500 Accumulated other comprehensive income 73 28 Retained earnings 11,073 16,304 Total Gilead stockholders' equity 18,475 22,833 Noncontrolling interest ( 84 ) ( 84 ) Total stockholders' equity 18,390 22,749 Total liabilities and stockholders' equity $ 54,525 $ 62,125 See accompanying notes. 3 GILEAD SCIENCES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended Nine Months Ended September 30, September 30, (in millions, except per share amounts) 2024 2023 2024 2023 Revenues: Product sales $ 7,515 $ 6,994 $ 21,074 $ 19,864 Roya

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View this 10-Q filing on SEC EDGAR