Immunomedics soars 106% after Gilead agrees to acquire the cancer-drug company for $21 billion | Markets Insider

Immunomedics developed Trodelvy, an antibody-drug conjugate used to treat triple-negative breast cancer.

Gilead expects the deal to immediately bolster its revenue growth, and for it to be neutral to accretive to adjusted earnings per share in 2023, as well as"significantly accretive thereafter," Gilead said. Over the years, Gilead has received enormous pressure from investors to put its massive cash pile to work. At the end of 2018, Gilead had $30 billion in cash and short-term equivalents, according to data from YCharts.com.

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