Gilead bounces back on hope that HIV drug will reach potential
It was a tough start to the week for US biotech giant Gilead (Nasdaq: GILD), with the company’s share price taking a battering in the stock market slump and after reproting financing results that revealed fading hepatitis sales.
But better news on Wednesday that hinted at a new source of sales in another therapy area, sent Gilead’s share price spiraling, and it closed at $82.76, a 3% rise on the previous close.
The news was that the US Food and Drug Administration (FDA) has approved Biktarvy (bictegravir/emtricitabine/tenofovir alafenamide), a once-daily single-tablet regimen (STR) for the treatment of HIV-1 infection.
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