Gilead takes an $820M hit af­ter ax­ing a Kite CAR-T. Are bil­lions more go­ing to be in­cin­er­at­ed?

Gilead is writ­ing off its an­ti-BC­MA CAR-T for mul­ti­ple myelo­ma, elim­i­nat­ing one of the many ef­forts fo­cused on that tar­get and dri­ving a big part of the com­pa­ny’s $820 mil­lion im­pair­ment charge for R&D in the 4th quar­ter of last year.  But this could just be a taste of what’s to come.

A spokesper­son sent this ex­pla­na­tion about the write-off:

Sign up to read this article for free.

Get free access to a limited number of articles, plus choose newsletters to get straight to your inbox.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER