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author：focus 2025-09-29 04:12:27 Page View：597

Adam's take main illustration — Molly Ferguson/STAT

Hello! Some takes and thoughts on Gilead’s Trodelvy troubles, Elevation Oncology’s surprising rise, and Kura Oncology’s “wall-crossing” stock sale.

Gilead needs Arcellx more than ever

The clinical trial setback for Trodelvy in non-small cell lung cancer reported by Gilead Sciences on Monday was another dose of bad news for the company’s oncology business. Strategically, does it make sense for Gilead to invest even more in antibody-drug conjugates like Trodelvy, where its lackluster profile and increased competition overall makes winning seem unlikely? Or, should Gilead double down on its Kite division and CAR-T cell therapy — the type of cancer treatments where it truly excels?

If the answers to those questions are no and yes (I lean that way), then Gilead’s current partnership with Arcellx, which is developing a BCMA-targeted CAR-T therapy for multiple myeloma, becomes a lot more important.

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