After Gilead (GILD) announced that the FDA has recently placed a clinical hold on the company’s clinical trials evaluating GS-1720 and/or GS-4182 for the treatment of HIV-1 Infection, Morgan Stanley noted that the firm does not include this combo program in its model given the early stage of development. While this pipeline update “represents an incremental negative” to the company’s efforts to develop a long-acting weekly-oral option to extend their oral Biktarvy treatment franchise beyond 2033, it does not impact the firm’s view of Lenacapavir for the prevention of HIV, which has a June 19 PDUFA date, and has “limited impact” on the firm’s near to medium term thesis, says the analyst, who keeps an Overweight rating and $135 price target on Gilead shares.
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