Gilead Sciences (GILD) stock surged 5.82% in the pre-market session on Wednesday, driven by the company's strong financial performance in the fourth quarter of 2024 and positive outlook for its HIV and oncology franchises.

The biopharmaceutical giant reported a 13% year-over-year increase in total product sales, excluding Veklury, to $7.2 billion for the fourth quarter. This impressive growth was primarily fueled by its HIV segment, where sales jumped 16% driven by the continued strength of Biktarvy, a leading HIV treatment that saw a 21% increase in demand.

Gilead's oncology portfolio also contributed significantly to the robust performance, with sales of its breast cancer drug Trodelvy climbing 24% year-over-year. The company's newly launched primary biliary cholangitis (PBC) treatment, Livdelzi, exceeded expectations in its first full quarter of commercial availability, further bolstering Gilead's liver disease franchise.