Several biotechnology companies reported their second quarter 2025 financial results and business updates. Gilead Sciences posted revenue of $7.08 billion, slightly above estimates of $6.97 billion, and an adjusted EPS of $2.01, surpassing the $1.98 consensus. Product sales ranged between $28.30 billion and $28.70 billion. Key product revenues included Biktarvy at $3.53 billion, exceeding the $3.37 billion estimate, Trodelvy at $364 million, above the $345.4 million estimate, and Veklury at $121 million, below the $200.1 million estimate. Gilead's revenue growth was driven by higher sales of HIV treatments, Livdelzi (seladelpar), and Trodelvy, partially offset by lower chronic hepatitis C virus sales. The company also secured FDA approval for Yeztugo, the first twice-yearly HIV pre-exposure prophylaxis (PrEP). Other biotech firms such as Geron Corporation, Anaptys, Cytek Biosciences, Acadia Pharmaceuticals, OmniAb, Innoviva, RAPT Therapeutics, Celldex Therapeutics, Arcellx, Janux Therapeutics, Nektar Therapeutics, Cidara Therapeutics, 10x Genomics, Incannex, Calidi Biotherapeutics, Nyxoah, and Exicure, Inc. also released their quarterly results and operational highlights. Notably, Incannex reported positive patient-reported outcomes and compelling Phase 2 efficacy data for IHL-42X in obstructive sleep apnea, while Nyxoah received FDA approval for its Genio® System for the treatment of obstructive sleep apnea.