Our best performer was Gilead Sciences (NASDAQ:GILD), the biotechnology firm that makes therapies for HIV and hepatitis C. Its stock jumped 14.5% from $70.78 to $81.02, contributing 70 basis points to the Fund’s return. In August, the company acquired Kite Pharma for $12 billion. Kite Pharma is a leader in cellular therapy, a game-changing new cancer treatment that harnesses the body’s own immune system to fight cancer. The acquisition establishes Gilead as a leader in a fast-growing field with huge opportunities.
From Jerome Dodson (Trades, Portfolio)'s Parnassus Fund third quarter 2017 commentary.
