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Gilead Sciences (GILD - 71-1/4) has announced positive results from the completion of Phase III studies for a new anti-HIV drug that needs only to be taken once a day.
The study met desired standards for efficacy and safety. Detailed results will be presented at a conference later in the year.
The shares of GILD gapped up at the open in response to the good news and so far, the stock has continued to trade upwards of Friday's close.