Chris, thanks for posting the earnings news. I had missed it. That was a very impressive report. I'll bet GILD will get some upgrades shortly. What do you think this is worth? Could we see a $2-$3 pop tomorrow?
Just to hi-light some of the goodies in the earnings report.
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<< During the quarter, Gilead received a $10 million milestone payment from Pharmacia & Upjohn S.A. following the marketing authorization of VISTIDE in the European Union.
In addition, Gilead received a $3 million milestone payment from F. Hoffmann-La Roche associated with the collaboration between Gilead and Roche to develop orally administered compounds for the treatment and prevention of viral influenza. Gilead and Roche are now testing GS 4104 in Phase II human studies in the United States. >>
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Love those milestone payments! Shows backing of GILD by major drug companies. They're not going to put up big bucks if they don't see $$$$ at the end of the rainbow.
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<< In addition to the $10 million cash milestone payment received upon European marketing authorization of VISTIDE during the quarter, Pharmacia & Upjohn purchased 1,133,786 shares of newly-issued Series B Preferred Stock at $35.28 per share, resulting in total proceeds to Gilead of approximately $40 million.
The shares issued to Pharmacia & Upjohn are not publicly registered and are convertible at any time into shares of Gilead common stock on a one-for-one basis. Pharmacia & Upjohn has agreed not to sell these
shares or purchase any additional equity securities of Gilead for a period of five years. >>
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Wow! What a great statement about how P&U feels about the value of GILD. They are paying $35 per share ($40 million) for shares frozen for 5 years. Also, it's a nice way to finance Gilead. P&U comes up with the cash and receives an investment in GILD.
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<< Gilead's expertise has resulted in proprietary therapeutics for important viral diseases, including a currently available therapy for cytomegalovirus retinitis, and products in development to treat diseases caused by human immunodeficiency virus, hepatitis B virus, herpes simplex virus, human papillomavirus and influenza virus. Gilead's research programs seek treatments for these and other viral infections, vascular diseases and cancer. >>
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Just posting what they have in the pipeline.
You had already posted that they had $337 million in cash. That's about $12 1/2 cash per share. That means that we are getting GILD for a net of about $15 per share.
Regards, Bob |
