The value of Gilead’s stock has risen since the end of the year, while the value of the company’s drugs has also risen since then.
Gilead has increased its share price by more than 20% since the start of the financial year, from $10 to $21, and by a further 25% since early February, when it raised its share capital from $4.4bn to $6.3bn.
Shares in the company were trading for more than $30 before the stock market crash, after its shares were down more than 50% on the start.
Gileadec shares were also up 1% in premarket trading on Friday.
Synergy Pharmaceuticals shares rose 8.7% in trading on the New York Stock Exchange.
The stock’s stock market value is up nearly $4bn since the beginning of the month.
GILDA’s shares were up more than 60% since January, but fell by more by nearly 20% the day after the company raised its capital from its shareholders.
Earlier in the year Gileady had increased its dividend from 1% to 2%, but has since reduced the dividend rate to 0%.
The company said on Friday that it was taking steps to reduce its costs and to increase efficiencies in order to ensure that it can achieve its targets.
“We are reducing costs and enhancing our operations, which will result in increased profits for our shareholders,” Gileader said in a statement.
Gileady shares have climbed in recent weeks due to the price of its drugs rising more than 40% over the past 12 months.
Earlier in January, Gileada was the most heavily traded company in the US on the Nasdaq stock market.
Source BBC Sport article The BBC’s business affairs correspondent Nick Mason said that despite the financial woes facing Gileaders stocks, investors are still buying into the company.
He said: “It is still a very risky stock.
But the more the markets rally and the more shares come on, the more they are worth.”
Mr Mason added that Gileades share price is still at a premium to that of Pfizer, whose stock has fallen in recent months.
Mr Mason said: “Gileader has a long way to go to become a market leader, but in the meantime the stock is up about 50% this year compared to the last time the shares were trading.”
That has put it at the top of the pack of pharmaceuticals.
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