This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Gilead Sciences Scores First Win With Late-Stage Hep C Study

Stocks in this article: GILD ABT

FOSTER CITY, Calif. ( TheStreet) -- Gilead Sciences (GILD) reported positive results Tuesday from the first in a series of late-stage studies to support the regulatory approval of its hepatitis C pill sofosbuvir.

If approved, sofosbuvir will be the main component of the first all-oral combination regimen to treat hepatitis C, eliminating the need for traditional injectable drugs.

Gilead expects to seek approval of sofosbuvir in the middle of 2013.

This first phase III study, dubbed POSITRON, examined a 12-week course of therapy consisting of sofosbuvir (formerly known as GS-7977) plus the immune booster ribavirin. The study enrolled patients with genotype 2 or 3 hepatitis C who were not candidates for treatment with interferon, the injectable drug commonly used today.

Genotype 2/3 is less common in the U.S. than genotype 1 but still represents about one-third of all hepatitis C cases worldwide.

Seventy-eight percent of patients treated with sofosbuvir and ribavirin for 12 weeks achieved a sustained virologic response (SVR), the medical term that denotes a cure for hepatitis C. By comparison, none of the patients treated with a placebo in the study achieved a cure.

The 78% cure rate for sofosbuvir plus ribavirin met but didn't exceed Wall Street expectations, said ISI Group analyst Mark Schoenebaum, in an email to clients.

"As Gilead is a very high expectation stock, we would not expect the stock to move up much at all today, and could even trade down a bit," Schoenebaum writes.

Gilead shares were down less than 1% to $75 in early Tuesday trading.

Two additional phase III studies of sofosbuvir in genotype 2/3 patients are underway with results expected in the first quarter 2013. Phase III studies of sofosbivir in the more prevalent genotype 1 hepatitis C patient population are also being conducted, with results expected next year.

Gilead most promising and anticipated hepatitis C regimen consists of sofosbuvir, a so-called "nuc" polymerase inhibitor plus GS-5885, an NS5A inhibitor.

Abbott Labs (ABT) has begun phase III studies of its own all-oral hepatits C regimens.

-- Reported by Adam Feuerstein in Boston.

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,922.00 +117.20 0.66%
S&P 500 2,074.48 +3.83 0.18%
NASDAQ 4,774.5290 +9.1490 0.19%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs