Gilead's stock drops after China halts second remdesivir trial [MarketWatch]
Gilead Sciences, Inc. (GILD)
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Source: MarketWatch
Shares of Gilead Sciences Inc. fell 4% in trading on Wednesday afternoon after Chinese authorities said they stopped recruiting for a remdesivir clinical trial in severely ill COVID-19 patients there. "The epidemic of COVID-19 has been controlled well in China, no eligible patients can be enrolled at present," according to an April 15 update on ClinicalTrials.gov. A second trial for remdesivir, Gilead's experimental treatment, has been halted in China, as well. It aimed to test remdesivir in patients with mild or moderate forms of COVID-19. Gilead previously confirmed that enrollment in that study has been halted. Evercore ISI analyst Umer Raffat told investors in a note on Wednesday that the large number of trials initiated in China to find a treatment for the disease may have made it difficult to find enough participants. However, he also noted that: "We can't ignore the fact that if remdesivir had overwhelming efficacy, trials may have enrolled." Last week Gilead published the firs
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