GILD · 10-Q · 2026Q3 · Full report

In-Process R&D Impairment

GILEAD SCIENCES, INC. · 2026-10-30 · Importance 22 · Surprise 42 · Matches filing data

Gilead recorded a $1.75 billion impairment charge during the nine months ended September 30, 2026, eliminating the remaining carrying value of its NSCLC in-process R&D intangible asset. The impairment followed the June 2026 discontinuation of the Phase 3 EVOKE-03 study of Trodelvy plus pembrolizumab in previously untreated metastatic NSCLC. The company determined that no future cash flows were expected from the asset and attributed no value to it.

Key facts

• Gilead and Merck discontinued the Phase 3 EVOKE-03 study of Trodelvy plus Keytruda for first-line metastatic NSCLC with high PD-L1 expression (TPS ≥50%), following the external Data Monitoring Committee’s recommendation after review of progression-free survival and interim overall survival analyses. source
• Gilead recorded an impairment charge of $1.75 billion for the remaining NSCLC IPR&D asset balance after discontinuing the Phase 3 EVOKE-03 study in June 2026 and determining no future cash flows were expected from the asset. source
• Gilead’s nine-month 2026 net loss was primarily due to acquired IPR&D expenses for Arcellx, Tubulis and Ouro Medicines, a $1.75 billion pretax IPR&D impairment charge related to assets acquired from Immunomedics, and higher operating expenses, partly offset by higher revenues. source
• Gilead recorded a partial $190 million impairment charge for the bulevirtide IPR&D intangible asset for the nine months ended September 30, 2025. source

Impact estimates