NYT: FDA may grant emergency authorization to Gilead's remdesivir [MarketWatch]
Gilead Sciences, Inc. (GILD)
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Source: MarketWatch
Shares of Gilead Sciences Inc. were up 6.8% in trading on Wednesday afternoon. Sources told The New York Times that the Food and Drug Administration (FDA) is preparing to grant an emergency use authorization to remdesivir, its experimental COVID-19 treatment. Over the course of the day, a series of data points from clinical trials were shared publicly, including promising results of a Gilead-sponsored trial, a positive preliminary data analysis from a National Institute of Allergy and Infectious Diseases study, and data from a Chinese clinical trial published in The Lancet. The data from the China trial said the drug did not Dr. Anthony Fauci, the NIAID's director, told White House reporters that the drug's performance in the trial indicates that the antiviral will become the standard of care in treating severely ill COVID-19 patients. An emergency use authorization is not the same as an FDA approval; however, given the lack of treatment or vaccine options, the regulator has used its
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