California-based Gilead’s experimental drug, selonsertib, aimed at treating the fatty liver disease failed to pass yet another trial
Gilead Sciences’s experimental drug aimed at treating a type of fatty liver disease known as NASH failed to meet the main goal of a late-stage study on Thursday, two months after it failed another trial.
California-based Gilead has been counting on its drug pipeline, including the NASH drug selonsertib, as sales of its hepatitis C treatments fall due to a smaller patient pool and intensifying competition, denting profits.
Oppenheimer & Co analyst Hartaj Singh said the expectations were low after the drug failed another late-stage study in February.
Successful treatments for non-alcoholic steatohepatitis have remained elusive, and Gilead stopped developing another treatment for the disease in 2016.
“Gilead could face some degree of reputational harm, given that this represents the closure of their second Phase 3 NASH program to fail miserably,” Baird Analyst Brian Skorney said in a note.