Shares of Gilead Sciences (NASDAQ: GILD) plunged by almost 10% on Monday following the disappointing outcome of a lung cancer drug trial, which failed to demonstrate improvements in survival.
The advanced phase trial for Gilead Sciences’ antibody-drug conjugate Trodelvy did not demonstrate a significant improvement in survival for patients with advanced non-small cell lung cancer (NSCLC) who had undergone previous treatment.
The Phase 3 trial, designed to broaden Trodelvy’s application, revealed that individuals with both squamous and non-squamous non-small cell lung cancer (NSCLC), the prevalent form of lung cancer, experienced a longer lifespan when given Trodelvy compared to those receiving chemotherapy, according to Gilead. However, Gilead noted that the observed difference was not statistically significant.
The trial included 603 participants with advanced non-small cell lung cancer (NSCLC) that had worsened following the standard treatment protocol involving platinum-backed chemotherapy and a checkpoint inhibitor like Merck’s Keytruda.
Gilead Sciences (NASDAQ: GILD) plans to engage in discussions with regulators regarding the outcomes of the second-line lung cancer trial and aims to present the comprehensive data at an upcoming medical meeting.
The trial indicated a survival benefit of over three months for a specific subgroup of patients who did not respond to their last checkpoint inhibitor treatment. In addition, Gilead plans to explore potential pathways to comprehend the impact of the drug on this particular group of patients.
Gilead Sciences (NASDAQ: GILD) is presently conducting Phase 2 and 3 trials of Trodelvy in collaboration with Keytruda as a primary intervention for patients diagnosed with NSCLC.
Merdad Parsey, Gilead’s top medical officer, said:
“The Phase 3 front-line trial is currently enrolling patients and results will not be available for a couple of years at least.”
He added:
“The current data gives us continued confidence in Trodelvy’s potential in metastatic NSCLC, and in our broader lung cancer clinical development program.”
Parsey noted that Trodelvy’s safety profile remained consistent with previous studies, with the primary adverse events being neutropenia (low white blood cell counts) and diarrhea.
Trodelvy, designed to tackle the Trop-2 cell surface antigen found in various tumor types, has received approval from U.S. regulators for individuals dealing with particularly advanced breast and bladder cancers.
Gilead recorded sales of $765 million in the first nine months of the previous year for the specific uses for which Trodelvy has already gained approval.
As of Monday’s closing, GILD stock experienced a 10.15% decline, with a trading volume of 20,378,552 (20.37 million) shares. This volume is well above the company’s daily average trading volume of 6.69 million shares.
Peter Williams, a financial writer with over five years of experience, specializes in covering stock market movements, bond markets, commodities, and macroeconomic trends.
