Gilead gains on GS-7977 data

Gilead Sciences Inc. (NASDAQ:GILD) gained $5.38 (11%) to $54.69 on Friday after releasing preliminary rapid virologic response data from the Phase IIb ELECTRON trial of HCV product GS-7977 in its financial results conference call late Thursday. All evaluable patients with HCV genotype 1 infection who received GS-7977 plus ribavirin achieved an RVR at week four. The data were collected from the trial's null responder and treatment-naive cohorts. The number of evaluable patients was not disclosed. The stock move translates to an increase in market cap of about $4 billion. Gilead's cap is now $41 billion. ...