Coronavirus Drug Results Send Gilead Sciences Stock Flying; JPMorgan Weighs In [Yahoo! Finance News]
Gilead Sciences, Inc. (GILD)
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Source: Yahoo! Finance News
As the tumbled 15% over the past two months, shares of biotech Gilead Sciences GILDAnd now it looks like Gilead is going up some more.New data from a University of Chicago Hospital Phase 3 clinical trial of Gilead's remdesivir antiviral drug, also known as "GS-5734" shows promising results for the drug's efficacy in treating the novel coronavirus. And no sooner had the data come out, than Gilead's stock price began marching higher again, rising 12% in pre-market trading on Friday.So what did the data show, exactly?The study in question involved 125 COVID-19 patients 113 of which were "severe" cases). After beginning treatment with remdesivir, some patients were able to stop using ventilators within just a single day. Most of the 125 were able to be discharged before even completing a full 10-day course of treatment, although two patients did die.At first glance, that sounds like a 98.4% survival rate, significantly above global norms for COVID-19. Still, a few caveats are in order he
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