On May 22, Gilead Sciences rose 3.04% in regular trading, trading at $134.5/share, with trading volume of $571 million. The rally was driven by a significant regulatory milestone for the company's antibody-drug conjugate (ADC) portfolio.

Gilead Sciences announced that its ADC therapy Trodelvy received a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP), supporting approval as a first-line treatment for metastatic triple-negative breast cancer in patients ineligible for PD-(L)1 inhibitor therapy. Pivotal Phase III clinical trial data demonstrated that Trodelvy reduced the risk of disease progression or death by 38% compared to physician's choice chemotherapy, with statistically significant and clinically meaningful improvements in both progression-free survival and overall survival. The European Commission's final decision is expected within the coming months.

Additionally, Gilead completed its $3.15 billion acquisition of Germany-based Tubulis, a biotech company specializing in ADC development, with up to $1.85 billion in contingent milestone payments. The deal further strengthens Gilead's ADC pipeline and establishes an innovation center in Munich. These developments coincide with new data presented at ASCO and EHA conferences showcasing Gilead and Kite's momentum in oncology.

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