Gilead Sciences (GILD) stock surged over 5% in pre-market trading on Wednesday, riding on the back of strong fourth quarter 2024 financial results. The biopharmaceutical company reported robust product sales growth across its HIV, oncology, and liver disease portfolios, setting the stage for continued momentum in 2025.

For the fourth quarter, Gilead's total product sales excluding Veklury grew an impressive 13% year-over-year to $7.2 billion. This was primarily driven by a 16% increase in HIV product sales, fueled by the strength of Biktarvy, which saw a 21% jump in demand. The company expects its HIV franchise to get another boost with the anticipated mid-2025 launch of lenacapavir, a long-acting HIV prevention drug.

In the oncology segment, Gilead's Trodelvy sales climbed 24% year-over-year, reflecting the growing adoption of this treatment for metastatic breast cancer. However, cell therapy sales remained flat due to competitive pressures in the market.

Gilead also reported a strong launch for its new primary biliary cholangitis (PBC) drug Livdelzi, with sales exceeding expectations in the first full quarter of commercial availability. The company is excited about Livdelzi's potential to bring an important treatment option to PBC patients globally.

For the full year 2025, Gilead expects total product sales between $28.2-28.6 billion, reflecting the impact of Medicare reforms but offset by contributions from new product launches. The company remains focused on expense discipline, targeting a mid-to-high single-digit decline in SG&A expenses compared to 2024.