Shares of Gilead Sciences, Inc. (NASDAQ:GILD) ended Thursday session in green amid volatile trading. The shares closed up +0.45 points or 0.60% at $75.83 with 9.60 million shares getting traded. Post opening the session at $75.93, the shares hit an intraday low of $74.26 and an intraday high of $76.36 and the price vacillated in this range throughout the day. The company has a market cap of $101.37 billion and the numbers of outstanding shares have been calculated to be 1.32 billion shares.
Gilead Sciences, Inc. (GILD) announced two-year (96-week) data from a Phase 3 study and 48-week data from two Phase 3b studies evaluating the safety and efficacy of switching virologically suppressed HIV-1 infected patients from regimens containing Truvada® (emtricitabine and tenofovir disoproxil fumarate 200mg/300mg; FTC/TDF) to regimens containing Descovy® (emtricitabine and tenofovir alafenamide 200mg/25mg; FTC/TAF). Results demonstrated regimens containing Descovy to be statistically non-inferior to regimens containing Truvada, with improvements in certain renal and bone laboratory parameters among patients receiving Descovy (FTC/TAF)-based regimens. The data were presented in an oral session (Treatment Strategies) at the 2016 HIV Glasgow conference in Glasgow, Scotland, UK.
Descovy is indicated for use in combination with other antiretroviral agents for the treatment of HIV-1 infection in patients 12 years of age and older. Descovy should not be used as pre-exposure prophylaxis (PrEP) to reduce the risk of acquiring HIV-1 infection. Descovy has a boxed warning in its product label regarding the risks of lactic acidosis/severe hepatomegaly with steatosis, and post treatment acute exacerbation of hepatitis B. See below for important safety information.
Shares of Community Health Systems (NYSE:CYH) ended Thursday session in red amid volatile trading. The shares closed down -4.98 points or -49.65% at $5.05 with 59.30 million shares getting traded. Post opening the session at $6.50, the shares hit an intraday low of $4.88 and an intraday high of $6.53 and the price vacillated in this range throughout the day. The company has a market cap of $562.10 million and the numbers of outstanding shares have been calculated to be 113.64 million shares.
Community Health Systems (CYH) announced preliminary financial and operating results for the three months ended September 30, 2016. These results are based on information available to management as of the date of this press release and are subject to revision upon finalization of the Company’s quarterly accounting and financial reporting procedures. Additionally, included in these results is the Company’s update to the previous estimate of impairment of goodwill and other long-lived assets recorded during the quarter ended June 30, 2016, as well as the determination of hospital reporting unit goodwill allocated to the four hospitals for which the Company has signed a definitive agreement to sell as previously announced on September 29, 2016. Financial and statistical data reported in this release include the operating results of Quorum Health Corporation (“QHC”) through April 29, 2016, the date on which the Company completed the spin-off of QHC. Same-store operating results and statistical data exclude information for the hospitals divested in the spin-off of QHC in both the three months ended September 30, 2016, and the comparable period in 2015.