Gilead Sciences Slips After Kite's Acquisition Of Tmunity

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.

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