Shares of Gilead Sciences Inc. took a sharp decline of 10.9% in premarket trading after disappointing trial results of their lung cancer treatment. The Phase 3 Evoke-01 study of Trodelvy vs. docetaxel did not meet its primary endpoint of overall survival in previously treated metastatic non-small cell lung cancer (NSCLC). Despite this setback, the company plans to discuss the results of the trial with regulators and expressed confidence in Trodelvy’s potential in metastatic NSCLC and their broader lung cancer clinical development program.
The stock’s decline puts it at risk for the biggest one-day drop since December 2014. However, Gilead Sciences Inc. remains optimistic about the potential of Trodelvy and the overall lung cancer clinical development program. The disappointing trial results have caused a significant decline in the stock price, with shares tumbling 10.9% in premarket trading. Despite the setback, the company aims to continue discussions with regulators and maintain confidence in the potential of their lung cancer treatment. Despite this, the company has expressed confidence in the potential of Trodelvy in treating metastatic NSCLC, and its broader lung cancer clinical development program.