Gilead Sciences (NASDAQ: GILD) stock was off to a good start this week, rising by more than 5% on Monday against the modest (0.4%) gain of the S&P 500 index. The prominent pharmaceutical company had some good news to impart about an important cancer drug.

Gilead announced that morning that its breast cancer treatment Trodelvy recorded "statistically significant and clinically meaningful" results in a phase 3 clinical trial. Trodelvy, which already holds Food and Drug Administration (FDA) approval to treat specific forms of breast and urothelial cancer, was being evaluated as a combination therapy to treat patients with HR+/HER2-metastatic breast cancer.

The company added that the safety profile of the drug was consistent with earlier studies. Gilead said that it has submitted a supplemental Biologics License Application (sBLA) to the FDA for the indication.

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Source Fool.com