Gilead draws harsh re­views as PhI­II for $21B Im­munomedics drug un­der­whelms Wall Street

Back in the sum­mer of 2020, Gilead ac­quired Im­munomedics for $21 bil­lion hop­ing to turn its breast can­cer drug Trodelvy in­to a megablock­buster. On Mon­day morn­ing, how­ev­er, Gilead got some news that it won’t be a slam dunk.

The big biotech re­vealed Trodelvy met its pri­ma­ry end­point of pro­gres­sion-free sur­vival in a Phase III study Mon­day, test­ing the drug in late-line metasta­t­ic HR+/HER2- breast can­cer. But at the in­ter­im analy­sis, an­a­lysts and ob­servers were left ques­tion­ing just how big the ben­e­fit was, as Gilead did not re­lease any hard da­ta.

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