Gilead Sciences sees cool reaction to ASH presentation

 

• Wells Fargo keeps an Equal Weight rating on Gilead Sciences (NASDAQ:GILD) following magrolimab update in AML at the ASH conference over the weekend.
• The firm says that while azacytadine combo data are compelling, it views the CD47 category as highly competitive and would take a wait-and-see approach to relative positioning.
• Magrolimab breakdown: "GILD reported data for 64 treatment-naïve elderly AML patients unfit for intensive chemotherapy, treated with magrolimab (1–30 mg/kg IV weekly to mitigate on-target anemia followed by 30 mg/kg Q2W dosing in cycle 3 and beyond) plus AZA 75 mg/m2 on days 1–7 every 28 days. The trial enriched for patients with a p53 mutation (73%) and 70% of subjects had poor risk cytogenetics. The most common treatment-related adverse event was anemia which was generally transient and grade 3 or less, 4.7% of patients each discontinued due to a drug-related adverse event or required dose reduction. Thirty-day and 60-day all-cause mortality rates were 4.7% and 7.8% respectively."
• Previously: Gilead's magrolimab shows clinical responses in untreated acute myeloid leukemia patients
• https://seekingalpha.com/news/3642084-gilead-sciences-sees-cool-reaction-to-ash-presentation