Gilead Volatile After Kite Pharma's Yescarta Gets FDA Approval

Gilead Sciences, Inc. GILD shares are trading higher by 80 cents (1 percent) at $80.81 in Thursday's session.

After Wednesday's close, subsidiary Kite Pharma announced FDA approval for Yescarta, a gene-altering treatment for cancer.

After a higher open, Gilead continued in that direction before finally peaking at $82.47 and reversed course. That high comes just under its Oct. 12 high ($82.82).

The stock has come hard off that level and so far found intraday support just under the upper-range of Wednesday's ($80.84) as $80.52 stands as the low for the session as of 10:30 a.m. EST.