The actions of Gilead They are falling close to 1% in the Wall Street after hours market, which records trading after hours. The pharmaceutical company has presented the results for the first quarter of 2020 at the close of the US market.
The red numbers are explained because you have filed a profit per share of $ 1.22, a figure that has disappointed investors who expected $ 1.59.
Where it has not disappointed has been in income. Gilead has reported $ 5.5 billion in revenue, 2% higher than expected by the consensus, which spoke of 5,460 million. In addition, it represents an increase of 5% compared to the same period of the previous year.
“Gilead's performance in the first quarter demonstrates our continued progress and highlights the strength of our underlying business. While we are prepared to navigate the uncertainty and short-term impact of the pandemic, we are confident in our ability to meet our long-term goals ”Explained Daniel O'Day, President and CEO of Gilead Sciences.
The company is currently negotiating with the FDA to launch its medication remdesivir "as soon as possible" as a possible treatment against Covid-19.
The research process they are carrying out around this drug has increased research and development expenses. According to data released by the company, manufacturing and clinical trial costs have increased at approximately 50 million dollars.
Although they emphasize that this figure has been offset by the postponement of other clinical trials due to the mudial pandemic.
Looking at the results for the second quarter of 2020, they hope to have more information about the economic impact of the pandemic. This is why Gilead will continue to monitor the impact of COVID-19.