Gilead Sciences (GILD) just invested millions in two biotech stocks.
One of those investments was in AlloVir (ALVR), which develops drugs to treat or prevent viral diseases. Gilead invested $11 million in the company on June 27 and now owns another 2.9 million shares of the stock.
With ALVR, the company also just released final results from its Phase 2 study of posoleucel, an investigational, allogeneic, off-the-shelf, multi-virus-specific T cell (VST) therapy, being studied for the treatment of BK viremia in adult kidney transplant recipients. Currently, there are no effective treatment options for BKV infection, as noted by the company.
Gilead also invested $19.5 million in Arcus (RCUS), picking up another million shares.
With RCUS, the company just announced updated results from an interim analysis of the ARC-7 study in patients with first-line, metastatic non-small cell lung cancer (NSCLC) with PD-L1 tumor proportion score (TPS) ≥50% without epidermal growth factor receptor (EGFR) or anaplastic lymphoma kinase (ALK) mutations.
ARC-7 is the first Phase 2, randomized, open-label study evaluating the combinations of Fc-silent anti-TIGIT monoclonal antibody domvanalimab plus anti-PD-1 monoclonal antibody zimberelimab (doublet) and domvanalimab plus zimberelimab and etrumadenant, an A2a/b adenosine receptor antagonist (triplet), versus zimberelimab monotherapy.
All of that information could send both stocks even higher. Keep them on radar.
