Gilead Sciences, Inc. (GILD) Jumps on Hepatitis C Combo Study Results
11/12/2012 6:39:28 AM
Gilead Sciences Inc. (GILD) rose after a combination of its experimental hepatitis C therapies cleared the virus in 100 percent of patients in a trial. Gilead gained 9.8 percent to $71.36 at 8:02 a.m. New York time, after climbing to $71.86. The Foster City, California- based drugmaker presented results from its clinical trials this weekend at the American Association for the Study of Liver Diseases meeting in Boston. Gilead, the world’s largest maker of HIV medicines, is among several drugmakers racing to develop new hepatitis C treatments that act faster with fewer side effects than the current standard of care. “This is starting to look like a home-run as we now know GILD at least has a 100 percent cure all-oral regimen with its own wholly owned drug with no partnering,” Michael Yee, an analyst at RBC Capital Markets in San Francisco, wrote in a note to clients today.