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Gilead Sciences Slips After Kite's Acquisition Of Tmunity

December 20, 2022 — 10:05 am EST

Written by RTTNews.com for RTTNews->

(RTTNews) - Gilead Sciences, Inc. (GILD) shares are sliding more than 4 percent on Tuesday morning trade after Kite, a Gilead company agreed to acquire Tmunity Therapeutics to pursue next-generation CAR T-Cell Therapy advancements in cancer. The transaction is expected to reduce Gilead's earnings per share by approximately $0.18-$0.22. The financial terms of the agreement were not disclosed.

The transaction is expected to close in the first quarter of 2023.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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