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(RTTNews) - Gilead Sciences, Inc. (GILD) a biopharmaceutical company, Thursday announced that it has returned to profitability in the first quarter of 2025, reporting net income of $1.32 billion or earnings per share of $1.04, compared to a net loss of $4.17 billion or loss per share of $3.34 in the same quarter last year.

The sharp turnaround was primarily driven by the absence of large in-process R&D charges that had weighed on results a year earlier.

Total revenue held steady at $6.67 billion versus $6.69 billion in the prior year period. Product sales were essentially flat at $6.61 billion, while royalty and other revenues grew modestly.

GILD closed Wednesday's trading at $106.15 down $0.23 or 0.22 percent on the Nasdaq.

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