Gilead's Stock Plummets on Disappointing Lung Cancer Study Results

Gilead Sciences Inc's stock is falling after its Phase 3 EVOKE-01 study evaluating Trodelvy in previously treated metastatic non-small cell lung cancer did not meet its primary endpoint of overall survival. Despite a numerical improvement in overall survival favoring Trodelvy, the study did not show a statistically significant difference. Gilead plans to discuss the results with regulators and explore potential pathways to understand Trodelvy's role in these patients. Trodelvy is the first approved Trop-2-directed antibody-drug conjugate that has shown meaningful survival advantages in metastatic breast cancers and improved clinical outcomes for certain people with metastatic urothelial cancer.