Shares of Gilead Sciences, Inc. (NASDAQ:GILD) ended Monday session in red amid volatile trading. The shares closed down -0.75 points or -0.92% at $80.62 with 9.04 million shares getting traded. Post opening the session at $81.00, the shares hit an intraday low of $79.92 and an intraday high of $81.13 and the price vacillated in this range throughout the day. The company has a market cap of $106.20 billion and the numbers of outstanding shares have been calculated to be 1.32 billion shares.
Gilead Sciences, Inc. (GILD) on September 22, 2016 announced that the company is stopping its combined Phase 2/3 clinical study of GS-5745, an investigational anti-MMP9 antibody, among patients with moderately to severely active ulcerative colitis. This decision follows a planned interim analysis of unblinded efficacy and safety data by the Data Monitoring Committee (DMC) after the first 150 patients of a planned 1600-patient trial were treated for an 8-week induction duration. The DMC recommended that the study be terminated early due to meeting the pre-specified futility and efficacy criteria. No safety concerns were noted in this interim analysis. Gilead has also reviewed the data and determined that there is insufficient evidence of a treatment benefit in the group of patients randomized to receive either one of two doses of GS-5745.
Separately, a Phase 3 study of GS-5745 is ongoing in patients with gastric cancer, as well as a Phase 2 study in patients with gastric cancer in combination with nivolumab and additional Phase 2 studies in moderately to severely active Crohn’s disease, rheumatoid arthritis and cystic fibrosis. These studies will continue as planned.
Shares of Bristol-Myers Squibb Co (NYSE:BMY) ended Monday session in red amid volatile trading. The shares closed down -1.00 points or -1.77% at $55.48 with 8.60 million shares getting traded. Post opening the session at $56.26, the shares hit an intraday low of $55.40 and an intraday high of $56.31 and the price vacillated in this range throughout the day. The company has a market cap of $92.80 billion and the numbers of outstanding shares have been calculated to be 1.66 billion shares.
Bristol-Myers Squibb Co (BMY) will take part in Leerink Partners Immuno-Oncology Roundtable Conference on Thursday, September 29, 2016, in New York. Fouad Namouni, senior vice president, Head of Oncology, will answer questions about the company at 3:00 p.m. EDT.
Investors and the general public are invited to listen to a live webcast of the session at http://investor.bms.com. An archived edition of the session will be available later that day.