GILD: With GILD's CMO Sounding Enthusiastic, What To Look For In Upcoming UC Readout

研报英文原文证据摘录

GILD: With GILD's CMO Sounding Enthusiastic, What To Look For In Upcoming UC Readout

025 1.79A 1.98A 2.45A 1.83A

in moderately-to-severely active ulcerative colitis, with clinicaltrials.gov 2026 2.03A (7.50)E 2.17E 2.35E

reflecting primary completion in March 2026. On GILD's 1Q26 earnings call Revenue

2025 6,667.0A 7,082.0A 7,772.0A 7,924.0A last week, CMO Dietmar Berger noted that they are looking at the data 2026 6,960.0A 7,414.0E 7,791.0E 8,188.0E

and are "very excited" about the asset, with plans to report the results

very soon. Given that this asset, which we previously profiled in our deep Revenue:All values $ininUSDmillionsunless otherwise noted.

dive into GILD's I&I pipeline, has not been on investors' radars, and that Priced as of prior trading day's market close, EST (unless otherwise noted).

this seems to be the most enthusiastic management has sounded about

it, we thought it made sense to revisit where expectations should be and

what impact it could have on GILD's overall pipeline diversification into

immunology.

We believe α4β7 is a well-validated target. The α4β7 integrin mediates

gut-selective lymphocyte trafficking via interaction with MAdCAM-1 on

intestinal endothelium; selective blockade restricts pathological immune

cell homing to the gut while preserving systemic immune function, an

approach clinically validated by standard-of-care antibody Entyvio. The

emerging oral small molecule class, led by LLY/MORF's zotemtegrast,

demonstrated some early signals in an open-label ph.II (26% clinical

remission at Week 12).

However, with LLY data showing only modest efficacy, the key

open question remains whether oral small molecule engagement can

recapitulate biologic-level efficacy. Randomized, placebo-controlled data