Re­port on one PhI­II remde­sivir study sends in­vestors in­to over­drive, adding bil­lions to Gilead­'s mar­ket cap

Be­fore any drug is of­fi­cial­ly proven ef­fec­tive against Covid-19, every da­ta nugget sur­round­ing an ex­per­i­men­tal treat­ment un­der­stand­ably arous­es in­vestors’ and pa­tients’ hopes alike. Thurs­day night saw per­haps the most vivid and dra­mat­ic il­lus­tra­tion to date.

Gilead shares $GILD soared 12.10% to $85.80 af­ter STAT re­port­ed on one por­tion of the da­ta from one of the com­pa­ny’s two on­go­ing Phase III tri­als for remde­sivir. Of 125 pa­tients re­cruit­ed at the Uni­ver­si­ty of Chica­go Med­i­cine, 113 had se­vere dis­ease and most of them have been dis­charged. Two deaths were record­ed.

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