Gilead’s Remdesivir is one of the first medicines proposed as having the potential to fight SARS-CoV-2, the novel virus that causes the COVID-19, in laboratory tests. Remdesivir is an antiviral medicine used as a potential treatment for Ebola.
STAT News, an independent medical publication, reports that preliminary results from a study in Chicago evaluating Remdesivir in coronavirus patients are positive with rapid recoveries in fever and respiratory symptoms observed. Almost all COVID-19 patients discharged from hospital in less than a week.
The small-scale trial, conducted by the University of Chicago Medicine, found that nearly all patients who were given daily infusions of Remdesivir were discharged from the hospital in less than a week. The university recruited 125 COVID-19 patients, 113 of which had “severe symptoms” into two clinical trials to assess five and 10-day treatment courses of the drug. The University of Chicago Medicine study excluded patients on mechanical ventilation. It is only one study of a larger number of trials that GILD is conducting around the world to create a statistically significant sample. Gilead said that Phase 3 trial data to be available at the end of the month and data from other studies to be available in May.
Risky assets have jumped on the headlines in what seems to be the treatment for the COVID-19 pandemic. Gilead Sciences jumped in the news, in the premarket is adding over 15% at 88.40, yesterday’s close was at 76.54. Gilead is planning to increase the capacity and sales of Remdesivir. Wall Street futures are trading sharply higher with Dow Jones and S&P 500 adding over 3%, European indices also trading higher with DAX 30 and CAC 40 adding over 4%.