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Published: January 22, 2024 at 8:43am ET
Shares of Gilead Sciences Inc. GILD plunged 10.9% in premarket trading on Monday, falling from an 11-month high after the biotech company reported disappointing results from a lung cancer treatment trial. The decline puts the company’s stock at risk for its biggest single-day decline since Dec. 22, 2014, when it plummeted 14.3%. The company said its phase 3 Evoke-01 trial comparing Trodelvy and docetaxel did not meet its overall primary endpoint. Survival rates for previously treated metastatic non-small cell lung cancer (NSCLC). On the other hand, Trodelvy was well tolerated and no new safety signals were identified. Gilead said it plans to…
Gilead Sciences stock
guild
Shares fell 10.9% in premarket trading on Monday, falling from an 11-month high after the biotech company reported disappointing results from a lung cancer treatment trial. The drop puts the company’s stock at risk for its biggest single-day decline since Dec. 22, 2014, when it plummeted 14.3%. The company said its phase 3 Evoke-01 trial comparing Trodelvy and docetaxel did not meet its overall primary endpoint. Survival rates for previously treated metastatic non-small cell lung cancer (NSCLC). On the other hand, Trodelvy was well tolerated and no new safety signals were identified. Gilead said it plans to discuss the study results with regulators. “Our combined data gives us continued confidence in Trodelvy’s potential in metastatic NSCLC and our broader lung cancer clinical development program,” said Mehrdad Percy, Chief Medical Officer.Stocks rose 12.2% over the past three months through Friday, while the S&P 500 index
SPX
It rose by 14.3%.
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