2024-01-22 09:41:40 ET
Gilead Sciences Inc (NASDAQ: GILD) says its drug conjugate Trodelvy disappointed in a late-stage cancer trial. Shares of the biotech firm opened about 10% down today.
Trodelvy failed to meet primary endpoint
Trodelvy did not meet the “primary endpoint of overall survival in previously treated metastatic non-small cell lung cancer”.
EVOKE-01 – the aforementioned phase three trial evaluated the drug conjugate versus docetaxel, as per a press release on Monday.
The news arrives only days before Gilead Sciences Inc is scheduled to report its financial results for the fourth quarter. Consensus is for it to earn $1.77 a share versus $1.67 per share a year ago.
Wall Street currently has a consensus “overweight” rating on that is still up more than 5.0% versus its low in late November.
What else was noteworthy in today’s update?
The late-stage trial did, however, show a numerical improvement in terms of overall survival that favoured Trodelvy.
Watch here: https://www.youtube.com/embed/8VDjX_lFnmk?feature=oembedSafety profile of the drug conjugate was also found in line with the previous studies. Merdad Parsey – the chief medical officer of Gilead Sciences said in a press release today:
The totality of our data gives us continued confidence in Trodelvy’s potential in metastatic NSCLC, and in our broader lung cancer clinical development programme.
Note that Trodelvy has already secured regulatory approval for metastatic urothelial cancer and certain breast cancers – but not for metastatic NSCLC so far. Last year, Gilead Sciences Inc bought XinThera to expand its footprint in oncology and inflammation.
The post Gilead says its Trodelvy disappointed in a late-stage cancer trial appeared first on Invezz