Gilead Sciences (GILD) stumbled Monday night after his treatment for liver disease failed in a late-stage study. The actions of Gilead fell on the news.
The drug, known as selonsertib, did not achieve its key goal in week 48 of the test for the disease known as nonalcoholic steatohepatitis disease, Gilead said in a news release. In the study, 14.4% and 12.5% of patients who received two different doses of treatment showed improvements in liver damage compared with 12.8% of those who received placebo.
The scientific director of Gilead, John McHutchison, expressed his disappointment with the results of the tests. Gilead is studying selonsertib in nonalcoholic steatohepatitis, or NASH, and diabetic kidney disease.
The firm also has other potential treatments for NASH, but selonsertib was the most advanced among them.
"The data from this large study of patients with compensated cirrhosis due to NASH, including the extensive pool of biomarkers collected, will improve our understanding of the disease and inform our broader NASH development programs," McHutchison said in a written statement.
In transactions after the end of the session in the stock market today, Gilead shares fell by 3.4%, close to 65.30, after closing a fraction, to 67.62.
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