Gilead Swings to Loss as Galapagos Collaboration Weighs on Quarter

Gilead Sciences swung to a third-quarter loss after it recorded up-front collaboration and licensing expenses related to its global research and development partnership with Galapagos NV (GLPGF).
The biopharmaceutical company posted a net loss of $1.17 billion, or 92 cents a share, compared with a profit of $2.1 billion, or $1.60 a share, a year earlier. Excluding special items, earnings were $1.75 a share. Analysts polled by FactSet were expecting adjusted earnings of $1.74 a share.
The company said its expenses from the Galapagos collaboration were $3.92 billion, or $2.40 per share.
Revenue for the quarter was $5.6 billion, roughly flat from a year ago. It also was in line with analysts’ estimates of $5.61 billion.

https://www.marketscreener.com/GILEAD-SCIENCES-4876/news/Gilead-Sciences-Swings-to-Loss-as-Galapagos-Collaboration-Weighs-on-Quarter-29451542/