Shares of Gilead Sciences (NASDAQ: GILD) marched higher on Thursday, Feb. 2 in response to a fourth-quarter earnings report that exceeded expectations. A day later, the U.S. Food and Drug Administration (FDA) agreed to dramatically increase the addressable patient population for an important cancer drug called Trodelvy.

Gilead Sciences splashed out with a $21 billion acquisition of Immunomedics in 2020 for access to Trodelvy. Long considered a leader in the antiviral drug niche, management is betting heavily that Trodelvy can open up new avenues to growth.

Is Gilead Sciences a smart stock to buy now that Trodelvy is approved to treat a larger audience? Here's what you should know.

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Source Fool.com