GILEAD SCIENCES, INC.

Gilead Sciences (10% holder) doubled Assembly stake to 4,505,391 shares, raising ownership by 103.9% via 2,295,920 share purchase.

Gilead Sciences, a 10% owner, purchased 2,295,920 shares of Assembly Biosciences on 2025-08-08, increasing its holdings from 2,209,471 to 4,505,391 shares (+103.9%). This aggressive accumulation signals material commitment to the biotech firm despite mixed prior outcomes: Gilead's two previous buys at Assembly (2024-12-19 and 2024-06-17) yielded 90-day returns of -49.2% and +19.2% respectively, suggesting limited predictive accuracy at this ticker. Assembly is unprofitable (latest quarter: -$10.2M net income) but shows explosive annual revenue growth of +298.2%, trading at $23.32—down 13.4% from its 52-week high. The doubling of position size by a strategic investor warrants examination of Assembly's pipeline progress and Gilead's strategic rationale, particularly given the company's cash-burn profile and the mismatch between Gilead's cross-ticker buy-timing success (44.44% 90-day win rate) and its poor 90-day returns at this specific ticker.

Gilead Sciences, a 10% owner, acquired 1,363,636 shares of Arcus Biosciences (RCUS) for $15.0M on Feb 18, raising stake to 31.42M shares.

Gilead, already a major stakeholder with 30.06M shares, increased its Arcus position by 1.36M shares at $11.00 per share. The timing occurs as RCUS trades 46.8% below its 52-week high and down 24.0% over 30 days, reflecting substantial recent weakness. Gilead's prior two purchases at RCUS (on 2024-01-29 and 2023-06-28) both resulted in negative 90-day returns of -8.8% and -0.3% respectively, with 0 of 2 prior trades proving well-timed by the 90-day mark. The target company remains unprofitable with a net income loss of $92.0M against quarterly revenue of $48.0M, though it posted 4.5% annual revenue growth. This incremental stake increase follows a track record of underwater timing at this specific ticker.

Gilead Sciences (10% owner) purchases 940,499 shares of ASMB for $20.1M, raising stake to 2.21M shares; stock down 23.2% from 52-week high.

Gilead Sciences, a 10% shareholder in Assembly Biosciences, purchased 940,499 shares at $21.37 on 2024-12-19 for $20,098,463.63, increasing its holdings by 74.1% to 2.21M shares post-transaction. The timing occurs at a notable point in the stock's trajectory—it is down 23.2% from its 52-week high of $19.43, though the current price of $14.92 reflects an additional decline beyond the transaction price. At the company level, Assembly remains unprofitable with a net income of $-9,613,000.00 in the latest quarter and a market cap of only $94,835,787.12, raising questions about financial sustainability. Notably, Gilead's prior purchase of ASMB shares on 2024-06-17 achieved a 90-day return of +19.2%, consistent with the insider's cross-ticker track record which shows an average 90-day return of +483.3% on prior buys, though this substantial outperformance may not be replicable at a single-ticker level given the limited sample size.

Gilead Sciences (10% owner) buys 1,759,978 shares of Xilio at $1.04; stake grows to 9,105,451 shares (+24.0%)

Gilead Sciences, already a 10% shareholder, executed an open-market purchase of 1,759,978 shares at $1.04 on 2024-12-18, increasing its holdings from 7,345,473 shares to 9,105,451 shares—a substantial +24.0% expansion of its position in Xilio Therapeutics. The timing appears selective: Xilio is trading 38.7% below its 52-week high of $21.42 and down 8.0% over the past 30 days, yet Gilead's prior buy at this ticker on 2024-04-02 yielded 90-day returns of +1601.9%, demonstrating material past success in timing purchases of Xilio. However, Xilio remains unprofitable with net income of $-14,020,000.00 on quarterly revenue of only $2,263,000.00 and a market cap of $577,169,511.62, so fundamental risk remains elevated. The accumulation of a larger stake by an established 10% owner signals persistence in the investment thesis despite near-term price weakness and ongoing losses.

Gilead Sciences (10% owner) buys 179,500 ASMB shares, raising stake to 1,268,972 shares (+16.5%)

Gilead Sciences, holding 10% of Assembly Biosciences, executed an open-market purchase of 179,500 shares on 2024-06-17, expanding its position by 16.5% to 1,268,972 shares total. Assembly Biosciences is a pre-profitability company ($-9.1M net income over the most recent full fiscal year against $5.8M in latest quarterly revenue) with a market cap of $84.4M, and the stock is currently trading at $15.30, near its 52-week high of $15.51. Gilead's cross-ticker insider track record shows 5 prior open-market buys with an average 90-day return of +319.7%, though the 25% win rate on those trades indicates inconsistent execution timing. This purchase represents meaningful capital commitment by a major institutional stakeholder during a period of sequential price appreciation (90-day change: +17.9%), and the substantial increase in position size merits monitoring for what it may signal about Gilead's assessment of Assembly's clinical or commercial trajectory.