After Gilead (GILD) announced a voluntary withdrawal of the U.S. accelerated approval for Trodelvy for the treatment of locally advanced or metastatic urothelial cancer, or mUC, Morgan Stanley analyst Terence Flynn called the news “an expected negative” following the negative Phase 2 TROPiCS-04 update in May, wherein Trodelvy did not meet the primary endpoint of overall survival. The firm, which sees “limited impact to shares” from the news, has an Equal Weight rating and $84 price target on Gilead.
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