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:
Keep reading Endpoints with a free subscription
Unlock this story instantly and join 110,100+ biopharma pros reading Endpoints daily — and it's free.