Gilead stock falls after lung cancer study results disappoint
Publishing timestamp: 2024-01-22 12:28:38
Summary
Gilead's shares fell more than 10% after their key drug, Trodelvy, failed to improve survival in a late-stage trial for patients with advanced lung cancer. The drug is one of Gilead's best-selling cancer drugs and contributes a significant portion of their oncology sales. While the drug did show some benefit for certain lung cancer patients, it did not meet the trial's bar for success. Gilead will discuss the results with regulators and determine if there are still certain patients who may benefit from the drug. The trial results could impact investor confidence in Gilead's sales in oncology.
Sentiment: NEGATIVE
Keywords: gilead sciences inc, business, health care industry, business news, jefferies financial group inc, biotech and pharmaceuticals, biotechnology, science, breaking news, pharmaceuticals,