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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