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Gilead Sciences Inc. (GILD) Jumped To A 2-Month High On Study Results

4/20/2012 7:31 AM ET

Gilead Sciences Inc. (GILD: Quote) announced interim data from the Phase 2 ELECTRON study of once-daily oral agent GS-7977 plus ribavirin Thursday morning, in treatment-naïve patients with genotype 1 chronic hepatitis C virus infection. Of the 25 patients who completed 12 weeks of treatment with the GS-7977-based regimen, 88 percent of patients remained HCV RNA undetectable four weeks after completion of treatment.

Gilead Sciences gapped open sharply higher Thursday, but retreated during the first half of the morning, before settling into a range. The stock closed up by 5.64 at $52.25 on above average volume. Gilead broke out to a 2-month high and re-crossed its 50-day moving average.

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by RTT Staff Writer

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