Gilead Sciences (GILD) Slammed After Disappointing Hep-C Data
Gilead Sciences, Inc. (Nasdaq: GILD) is under heavy pressure early Friday after disappointing data for its hep-C treatment.
The company said a majority of hepatitis C genotype 1 patients with a prior "null" response to an interferon (IFN)-containing regimen enrolled in the ongoing ELECTRON study experienced viral relapse within four weeks of completing 12 weeks of treatment with GS-7977 plus ribavirin (RBV).
Gilead said patients were randomized to this arm of the ELECTRON study and data are available for eight of the 10 patients at this time. Among these eight patients, six have experienced viral relapse. Two patients have not relapsed; however, they have only reached the two week post-treatment time point.
Shares last at $42, down 23%.
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The company said a majority of hepatitis C genotype 1 patients with a prior "null" response to an interferon (IFN)-containing regimen enrolled in the ongoing ELECTRON study experienced viral relapse within four weeks of completing 12 weeks of treatment with GS-7977 plus ribavirin (RBV).
Gilead said patients were randomized to this arm of the ELECTRON study and data are available for eight of the 10 patients at this time. Among these eight patients, six have experienced viral relapse. Two patients have not relapsed; however, they have only reached the two week post-treatment time point.
Shares last at $42, down 23%.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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