GILD · 10-Q · 2026Q2 · Full report
In-Process R&D Impairment
GILEAD SCIENCES, INC. · 2026-08-06 · Importance 71 · Surprise 60 · Matches filing data
Gilead recognized a $1.75 billion pre-tax impairment charge in the second quarter of 2026 for the Immunomedics-acquired NSCLC in-process research and development asset. The charge followed discontinuation of the Phase 3 EVOKE-03 Trodelvy and pembrolizumab study in June 2026 after external data review. Gilead concluded that no future cash flows were expected from the asset and assigned it no remaining value. The impairment materially contributed to the $10.5 billion second-quarter net loss and $8.5 billion six-month net loss.
Key facts
- In-process research and development impairment charge of $1.75 billion recognized in the three months ended June 30, 2026 related to the NSCLC IPR&D intangible asset following discontinuation of the Phase 3 EVOKE-03 study. source
- Partial impairment charge of $190 million recognized in In-process research and development impairments for the three months ended June 30, 2025 related to bulevirtide. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -22.4% | In-process research and development impairment charge of $1.75 billion recognized in the three months ended June 30, 2026 related to the… |
| net_income | negative | realized | -22.4% | In-process research and development impairment charge of $1.75 billion recognized in the three months ended June 30, 2026 related to the… |
| assets | negative | realized | -3.5% | In-process research and development impairment charge of $1.75 billion recognized in the three months ended June 30, 2026 related to the… |