Gilead Sciences (NASDAQ: GILD) watched its share price go down by almost 5% as a result of an unexpected adverse ruling by the FDA against Filgotinib. Filgotinib, a drug created in collaboration with Galapagos (NASDAQ: GLPG) caused that company's share price to drop by 25%, a stock that Gilead Sciences also has a significant stake in.
Gilead Sciences and Galapagos - Pharma Shots
FDA Announcement
The FDA rejected the with the following announcement:
Now, that’s all been thrown into question. Gilead said Tuesday evening that the agency had issued a so-called complete response