Gilead Sciences says Selonsertib, a new drug for treating NASH, a type of liver disease, failed Phase 3 trials.
The cancer drugmaker post narrower-than-expected losses for the quarter and strong revenue growth.
Strong sales of key cancer treatment drug Keytruda are expected to continue to drive revenues and earnings.
Hedge fund Starboard Value took a stake in the company last month, a Bloomberg report says.
Seagate, Hartford Financial and Gilead are set to report after the bell Monday.
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