Market Overview

Gilead Sciences and Kite Pharma Announce Expiration of Hart-Scott-Rodino Waiting Period


Gilead Sciences, Inc. (NASDAQ:GILD) and Kite Pharma, Inc. (Nasdaq: KITE) today announced that the required waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) with
respect to Gilead's cash tender offer for Kite expired at 11:59 p.m. on
September 25, 2017.

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On September 8, 2017, Gilead and Kite filed the Premerger Notification
and Report Forms required under the HSR Act with the Federal Trade
Commission and the Antitrust Division of the U.S. Department of Justice.

With the expiration of the waiting period, the tender offer is expected
to close in the beginning of October 2017, subject to customary closing
conditions. Unless the tender offer is extended, the offer and
withdrawal rights will expire at 12:00 midnight, New York City time, on
October 3, 2017 (one minute after 11:59 p.m., New York City time, on
October 2, 2017).

About Kite

Kite is a biopharmaceutical company engaged in the development of
innovative cancer immunotherapies with a goal of providing rapid,
long-term, durable response and eliminating the burden of chronic care.
The company is focused on chimeric antigen receptor (CAR) and T cell
receptor (TCR) engineered cell therapies designed to empower the immune
system's ability to recognize and kill tumors. On March 31, 2017, Kite
submitted a Biologics License Application to the FDA for its lead
product candidate, axicabtagene ciloleucel (axi-cel), as a treatment for
patients with relapsed or refractory aggressive non-Hodgkin lymphoma who
are ineligible for autologous stem cell transplant. Kite received
priority review on May 29, 2017 with the Prescription Drug User Fee Act
action date set for November 29, 2017. This submission comes after
positive results from Kite's ZUMA-1 pivotal trial with axi-cel in
patients with chemorefractory aggressive non-Hodgkin lymphoma. Kite is
based in Santa Monica, California. For more information on Kite, please

About Gilead Sciences

Gilead Sciences is a biopharmaceutical company that discovers, develops
and commercializes innovative therapeutics in areas of unmet medical
need. Gilead's mission is to advance the care of patients suffering from
life-threatening diseases. Gilead has operations in more than 30
countries worldwide, with headquarters in Foster City, California.

Forward-Looking Statements

This press release includes forward-looking statements that are subject
to risks, uncertainties and other factors. All statements other than
statements of historical fact are statements that could be deemed
forward-looking statements, including all statements regarding the
intent, belief or current expectation of the companies and members of
their senior management teams. Forward-looking statements include,
without limitation, statements regarding the business combination; its
effect on Gilead's revenues and earnings; the commercial success of
Kite's products; approval of axi-cel by regulatory authorities; the
ability of Gilead to advance Kite's product pipeline, including axi-cel;
the anticipated timing of clinical data; the possibility of unfavorable
results from clinical trials; filings and approvals relating to the
transaction; the expected timing of the completion of the transaction;
the ability to complete the transaction considering the various closing
conditions; difficulties or unanticipated expenses in connection with
integrating the companies; and the accuracy of any assumptions
underlying any of the foregoing. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance and
involve risks and uncertainties and are cautioned not to place undue
reliance on these forward-looking statements. Actual results may differ
materially from those currently anticipated due to a number of risks and
uncertainties. Risks and uncertainties that could cause the actual
results to differ from expectations contemplated by forward-looking
statements include: uncertainties as to the timing of the tender offer
and merger; uncertainties as to how many of Kite's stockholders will
tender their stock in the offer; the possibility that competing offers
will be made; the possibility that various closing conditions for the
transaction may not be satisfied or waived; the effects of the
transaction on relationships with employees, customers, other business
partners or governmental entities; other business effects, including the
effects of industry, economic or political conditions outside of the
companies' control; transaction costs; actual or contingent liabilities;
and other risks and uncertainties detailed from time to time in the
companies' periodic reports filed with the Securities and Exchange
Commission, including current reports on Form 8-K, quarterly reports on
Form 10-Q and annual reports on Form 10-K. All forward-looking
statements are based on information currently available to Gilead and
Kite, and Gilead and Kite assume no obligation and disclaim any intent
to update any such forward-looking statements.

Additional Information and Where to Find It

This announcement is neither an offer to purchase nor a solicitation of
an offer to sell shares of Kite. A solicitation and an offer to buy
shares of Kite have been made pursuant to an offer to purchase and
related materials, as amended and supplemented from time to time, that
Gilead filed with the U.S. Securities and Exchange Commission on
September 5, 2017. Kite has also filed a Solicitation/Recommendation
Statement on Schedule 14D-9 with respect to the offer. Kite stockholders
and other investors are urged to read the tender offer materials
(including an Offer to Purchase, a related Letter of Transmittal and
certain other offer documents) and the Solicitation/Recommendation
Statement because they contain important information which should be
read carefully before any decision is made with respect to the tender
offer. The Offer to Purchase, the related Letter of Transmittal and
certain other offer documents, as well as the
Solicitation/Recommendation Statement, have been sent to all
stockholders of Kite at no expense to them. The Tender Offer Statement
and the Solicitation/Recommendation Statement are also available for
free at the Commission's web site at
Free copies of these materials and certain other offering documents will
be made available by Gilead by mail to Gilead Sciences, Inc., 333
Lakeside Drive, Foster City, CA 94404, attention: Investor Relations, by
phone at 1-800-GILEAD-5 or 1-650-574-3000, or by directing requests for
such materials to Innisfree M&A Incorporated, the information agent for
the offer, toll-free at (888) 750-5834.

For more information on Gilead Sciences, please visit the company's
website at,
follow Gilead on Twitter (@GileadSciences) or call Gilead Public Affairs
at 1-800-GILEAD-5 or 1-650-574-3000

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