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Gilead Sciences Inc. (GILD) Has Broken Out To A New High On Study Results

Gilead Sciences Inc. (GILD) announced interim data from the ongoing Phase 2 ELECTRON study on Saturday, examining a 12-week course of therapy with the investigational nucleotide sofosbuvir, the NS5A inhibitor GS-5885 and ribavirin in patients with genotype 1 chronic hepatitis C virus infection. Among treatment-naïve patients receiving this combination, 100 percent remained HCV RNA undetectable four weeks after completing therapy.

Gilead Sciences has gapped open dramatically higher Monday and is now up 7.74 at $72.75 on above average volume. The stock has broken out of over a month and a half long range and has set a new high for the year.

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