Gilead reported an 11% year‑over‑year decline in cell therapy revenue for marketed CAR‑T products and disclosed a strategic decision in its early‑stage lenacapavir program: after comparing two integrase inhibitors, the company elected a twice‑yearly treatment partner and ended a Phase 1 candidate. The moves mark a recalibration toward lower‑frequency HIV therapy options and reflect near‑term commercial headwinds in autologous cell therapies. Gilead’s results highlight two industry currents: established CAR‑T demand can fluctuate and requires lifecycle management, while sponsors are optimizing combination strategies for long‑acting antivirals. For investors and partners, the decisions point to portfolio prioritization—allocating capital to higher-probability or higher-margin assets and partnering where needed for delivery and dosing platforms. The actions also underscore the broader industry shift toward durable, low‑frequency regimens for chronic diseases and the continued challenge of sustaining demand for costly, resource‑intensive cell therapy products.