Gilead has option to acquire up to three Tentarix subs for $80M per subsidiary

Across the three collaborations, Tentarix will receive upfront payments and an equity investment from Gilead totaling $66M. In addition, Gilead has the option to acquire up to three select Tentarix subsidiaries containing the programs developed under the collaborations for $80 M per subsidiary. Beginning in the first quarter of 2022, consistent with recent industry communications from the U.S. Securities and Exchange Commission SEC , Gilead no longer excludes acquired IPR&D expenses from its non-GAAP financial measures. Gilead expects the transaction with Tentarix to reduce Gilead’s GAAP and non-GAAP 2023 EPS by approximately 3c- 4c.