Gilead's Plan? Cash In on CAR-T

Investors eagerly awaiting news of how Gilead Sciences' (NASDAQ: GILD) plans to spend its growing mountain of cash found out on Monday that the company's plans to become a leader in cancer treatment weren't lip-service. Management will spend $11.9 billion to acquire Kite Pharma (NASDAQ: KITE), a promising clinical-stage drug company developing a new approach to kill cancer called CAR-T.

Chimeric antigen receptor T-cell therapy, or CAR-T for short, is a complex approach to beating back cancer that involves re-engineering a patient's T-cells so that they can better find and destroy cancer cells.

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Source: Fool.com