Gilead Reports Relapses on Hepatitis C Drug (GILD)
Shortly after Gilead Sciences Inc. (NASDAQ: GILD) announced its $11 billion acquisition of Pharmasett, the company also reported some very promising results on a hepatitis C drug that came in the acquisition. Today, those results were trimmed back and Gilead’s…
Shortly after Gilead Sciences Inc. (NASDAQ: GILD) announced its $11 billion acquisition of Pharmasett, the company also reported some very promising results on a hepatitis C drug that came in the acquisition. Today, those results were trimmed back and Gilead’s shares are taking a beating in the pre-market.
In the earlier report, the drug, called GS-7977, when used in combination with ribavirin eliminated all symptoms of a certain type of hepatitis C in just four weeks. Today’s report indicates that in a certain type of the disease, test results showed that six of eight patients “experienced viral relapse.”
Gilead shares are down nearly -19% at $44.50 in the pre-market.
Gilead’s announcement is available here.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
