An experimental drug known as GS-4997 from Gilead Sciences (
The new GS-4997 data are hard to interpret and come from a tiny number of patients, but Gilead believes there is enough information to justify advancing the drug to phase III studies in NASH.
Inexperienced, micro-cap biotech companies are often criticised for relying on ambiguous clinical data to support big decisions about drugs in their pipelines. This week, investors have watched with a fair amount of head-scratching as Celgene (
Gilead is under enormous pressure from investors to acquire companies or develop new drugs from its pipeline. The company needs to find a way to reinvigorate revenue and earnings growth now that the mega-blockbuster hepatitis C drug franchise is in decline.
Shares of Gilead are up 2% to $74.66 following the GS-4997 announcement. The stock is still down 26% for the year and is trading at...