Why Gilead Sciences Stock Jumped 5% Today

Gilead Sciences Inc GILD shares closed higher Monday after the company announced statistically significant and clinically meaningful results from its metastatic breast cancer study.

The Phase 3 TROPiCS-02 study evaluating Trodelvy in patients with HR+/HER2- metastatic breast cancer, showed that Trodelvy improved overall survival.

"These survival results from the TROPiCS-02 study are important for the breast cancer community, and we are encouraged by the potential this may have in helping patients who otherwise have limited alternatives," said Merdad Parsey, chief medical officer of Gilead Sciences.

"We look forward to discussing these results with global health authorities, as pre-treated HR+/HER2- metastatic disease patients currently have limited treatment options and poor quality of life."

The safety profile for Trodelvy was consistent with prior studies, and no new safety signals emerged in the patient population. Gilead said detailed overall survival results would be presented at an upcoming medical conference. The company also submitted a supplemental Biologics License Application to the FDA.

Related Link: Gilead Shares Climb On Positive Interim Analysis From Late-Stage Breast Cancer Study

GILD Price Action: Gilead has a 52-week high of $73.39 and a 52-week low of $57.16.

The stock closed up 5.16% at $66.21 on Monday, according to Benzinga Pro.

Photo: PublicDomainPictures from Pixabay.