Dallas, Texas 05/22/2014 (FINANCIALSTRENDS) – Gilead Sciences, Inc. (NASDAQ:GILD) recently reported much encouraging clinical findings from Phase IIa study concerning the company’s pipeline molecule GS-5806. The company was evaluating the clinical impact of GS-5806 in the treatment of respiratory syncytial virus which it studied on 140 healthy adults in the age group of 18 to 45 years. The drug was administered intra-nasally. The study was designed as placebo-controlled, double blind study. The company presented clinical findings from this study at the American Thoracic Society’s international conference.
Study Findings:
Gilead Sciences, Inc. (NASDAQ:GILD) reported that the treatment with its study candidate GS-5806 lowered the viral load, which was the primary objective of the study. In addition, the treatment with GS-5806 also improved total mucus weight as well as symptom diary scores in comparison to placebo. The company also reported that no serious adverse events were reported during the study and GS-5806 was found to be well-tolerated in the study.
The company also reported positive clinical findings for its other pipeline candidates as well at the start of the current month. The company reported encouraging results from its Phase II HARMONY study which was evaluating the combination effect of its ranolazine and dronedarone (in low dose; fromSanofi SA (ADR) (NYSE:SNY) in patients with atrial fibrillation.
Analysts Perspective:
Equities research analysts at Zacks mentioned that successful development of these pipeline candidates and their subsequent commercialization will add further to Gilead Sciences, Inc. (NASDAQ:GILD)’s top line. Especially, the RSV market offers significant underlying growth opportunities as there is considerable unmet medical need.
In addition, analysts remarked that the investor focus shall remain on the market performance of Sovaldi as the drug performed exceptionally well during its first full quarter in the market with sales climbing to $2.27 billion. Analysts at Zacks are expecting continues growth in Sovaldi sales through the remainder of FY14. The high sales figures are thanked to its cost of $84,000 for a 12-week treatment.
Stock Update:
Yesterday, the stock closed at $81.81, gaining 0.83% from its previous close.