* Says decision follows after review of interim data by DMC
* Shares down 4 pct after-market
Dec 22 (Reuters) - Biopharmaceutical company Gilead Sciences Inc stopped a late-stage trial of its experimental drug to treat lung scarring due to a lack of efficacy, sending its shares down about 4 percent in after-market trade.
Gilead was testing the drug ambrisentan in patients with idiopathic pulmonary fibrosis - a condition in which the lungs suffer scarring due to unknown causes.
The company's decision follows an interim analysis of the efficacy and safety data by the study's Data Monitoring Committee (DMC), the company said.
Gilead shares, which have lost 16 percent in the last one year, were down about 4 percent at $35.00 in extended trade. They closed at $36.34 on Wednesday on Nasdaq.
(Reporting by Anand Basu in Bangalore; Editing by Roshni Menon) Keywords: GILEAD/ (anand.basu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:anand.basu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Shares down 4 pct after-market
Dec 22 (Reuters) - Biopharmaceutical company Gilead Sciences Inc stopped a late-stage trial of its experimental drug to treat lung scarring due to a lack of efficacy, sending its shares down about 4 percent in after-market trade.
Gilead was testing the drug ambrisentan in patients with idiopathic pulmonary fibrosis - a condition in which the lungs suffer scarring due to unknown causes.
The company's decision follows an interim analysis of the efficacy and safety data by the study's Data Monitoring Committee (DMC), the company said.
Gilead shares, which have lost 16 percent in the last one year, were down about 4 percent at $35.00 in extended trade. They closed at $36.34 on Wednesday on Nasdaq.
(Reporting by Anand Basu in Bangalore; Editing by Roshni Menon) Keywords: GILEAD/ (anand.basu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:anand.basu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.