On Friday, Shares of Gilead Sciences, Inc. (NASDAQ:GILD), lost -0.99% to $108.13.
Gilead Sciences, declared that it has presented a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for an investigational, once-daily fixed-dose combination of the nucleotide analog polymerase inhibitor sofosbuvir (SOF), approved as Sovaldi® in December 2013, and velpatasvir (VEL), an investigational pan-genotypic NS5A inhibitor, for the treatment of chronic genotype 1-6 hepatitis C virus (HCV) infection. The NDA is supported by clinical studies exploring the use of 12 weeks of SOF/VEL for patients with genotype 1-6 HCV infection, counting patients with compensated cirrhosis and 12 weeks of SOF/VEL with ribavirin for patients with decompensated cirrhosis.
“As the first fixed-dose combination of two pan-genotypic, direct-acting antivirals, SOF/VEL represents an important step forward in the treatment of patients with hepatitis C,” said Norbert Bischofberger, PhD, Executive Vice President of Research and Development and Chief Scientific Officer at Gilead. “Genotype 1 is the most prevalent form of HCV in the United States, but worldwide, more than half of people living with HCV are infected with other genotypes. SOF/VEL complements our current HCV portfolio of Sovaldi and Harvoni, offering high cure rates and the potential to simplify treatment and eliminate the need for HCV genotype testing.”
The FDA has assigned SOF/VEL a Breakthrough Therapy designation, which is granted to investigational medicines that may offer major advances in treatment over existing options. The NDA for SOF/VEL is supported by data from four Phase 3 ASTRAL trials, which evaluated the fixed-dose combination in hepatitis C genotypes 1-6. Of the 1,035 patients treated with SOF/VEL for 12 weeks in the ASTRAL-1, ASTRAL-2 and ASTRAL-3 studies, 1,015 (98 percent) achieved the primary efficacy endpoint of SVR12. The ASTRAL-4 study randomized 267 patients with decompensated cirrhosis (Child-Pugh class B) to receive 12 weeks of SOF/VEL with or without ribavirin (RBV), or 24 weeks of SOF/VEL. Those who received SOF/VEL plus RBV for 12 weeks achieved an SVR12 rate of 94 percent, while those who received SOF/VEL for 12 weeks and 24 weeks achieved SVR12 rates of 83 percent and 86 percent, respectively.
Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in areas of unmet medical need in North America, South America, Europe, and the Asia-Pacific. The company’s products comprise Stribild, Complera/Eviplera, Atripla, Truvada, Viread, Emtriva, Tybost, and Vitekta for the treatment of human immunodeficiency virus (HIV) infection in adults; and Harvoni, Sovaldi, Viread, and Hepsera products for the treatment of liver disease.
Shares of Netflix, Inc. (NASDAQ:NFLX), inclined 3.10% to $108.38, during its last trading session.
Netflix, has received a consensus recommendation of “Buy” from the forty-six brokerages that are presently covering the company, AnalystRatingsNetwork.com reports. Four investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and thirty have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $120.46.
Netflix, Inc., an Internet television network, engages in the Internet delivery of TV shows and movies directly on TVs, computers, and mobile devices in the United States and internationally. The company operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD.
Finally, Shares of Range Resources Corp. (NYSE:RRC), ended its last trade with 2.70% gain, and closed at $30.44.
Range Resources Corp., declared its third quarter financial results.
Highlights
- Unit costs declined by $0.36 per mcfe, or 12% contrast to the preceding-year quarter.
- Production volumes averaged 1,445 Mmcfe per day, a 20% improvement over the preceding-year quarter.
- Marcellus production averaged 1,277 Mmcfe per day, a 27% improvement over the preceding-year quarter.
- First Utica well in Washington County, Pennsylvania estimated to have 15 Bcf EUR, or 2.8 Bcf per 1,000 feet of lateral.
- Second Utica well brought online with choke administration at 13 Mmcf per day rate and projected to have higher EUR than the first well.
- Full-year 2015 capital budget of $870 million is on track to deliver 20% annual year-over-year growth.
- Mariner East I with full operations for propane and ethane predictable by the end of the year.
Range Resources Corporation, an independent natural gas, natural gas liquids (NGLs), and oil company, engages in the acquisition, exploration, and development of natural gas and oil properties in the United States. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and Midcontinent regions.
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