Gilead Sciences Inc. shares declined 1.36%, or $1.85, to $134.45 as investors awaited the company's first-quarter earnings report, set for release on May 7. Despite this drop, Gilead's stock has risen 10.72% year-to-date. Analysts expect the company to report an earnings per share (EPS) of $1.91, reflecting a 5.5% increase from the previous year, alongside a revenue target of $6.92 billion, up 3.7% year-over-year. Gilead recently announced a definitive agreement to acquire Tubulis GmbH, a German biotechnology firm, for up to $5 billion. This acquisition aims to bolster Gilead's oncology portfolio, particularly in antibody-drug conjugates (ADCs), a promising area in cancer treatment. Gilead's CEO, Daniel O’Day, highlighted the significance of this deal in enhancing the company's capabilities in oncology. The acquisition follows a series of strategic moves by Gilead to diversify its portfolio, including earlier purchases of Ouro Medicines and Arcellx Inc. These efforts reflect Gilead's commitment to expanding beyond its traditional virology focus.