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What: Shares of biopharmaceutical giant Gilead Sciences
So what: Gilead's gains today are all about the data released last night revolving around GS-7977. The study found that when the GS-7977 pill was combined with ribavirin, 100% of genotype 1 hep-C patients had no trace of the virus found after four weeks of treatment. Gilead also reported fourth-quarter results, which showed revenue grew by 10% to $2.2 billion, slightly beating consensus estimates of $2.18 billion, but earnings fell $0.08 shy of Wall Street's estimates ($0.97 vs. $1.05). Outside of the hep-C data, the highlight of Gilead's report was the 11% growth in its HIV drug, Atripla.
Now what: Today's data looks like bad news for much of the hep-C sector because, as of now, Gilead's drug looks far superior. That's the reason Idenix Pharmaceuticals
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Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong. Motley Fool newsletter services have recommended buying shares of Gilead Sciences. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.