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Gilead quietly drops drugs from line up alongide Q3 results

Published on 02/11/16 at 04:16pm

Gilead Sciences followed Pfizer in discreetly dropping a drug alongside its third quarter profit reports. The drug in question, for Gilead, was selonsertib. The drug is an investigation inhibitor of apoptosis signal-regulating kinase 1. Gilead had announced as recently as mid-October that they would pursue development of the drug through to Phase III trials following “encouraging” results.

The about-turn on this particular drug does make logical sense given that the drug was tested both on its own and in combination with its investigational monoclonal antibody simtuzumab, but the drug was not found to have a major impact on results.

Gilead also announced that they will no longer develop GS-5745, another drug that was part of a partnership between Gilead and Abzena. Abzena’s shares nosedived, dropping by over 13.67% on release of the news.

Abzena released a very short statement after the development: “during the conference call to accompany Gilead Sciences Inc.’s (Gilead) announcement of third quarter earnings on 1 November 2016, Gilead stated that no further development of simtuzumab will be pursued.”

Gilead had released this news alongside their Q3 results, which displayed that they had missed analysts’ estimates due to falling sales of hepatitis C drugs.

Ben Hargreaves

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