The US biotech company Gilead Sciences is a great hope in the development of a drug for the treatment of Covid-19. On Thursday after the market closed, encouraging test results for the drug Remdesivir were released to the public. The stock reacts with a massive price jump.
Pre-market price is 86.49 +9.95 (13.00%) and it is expected to be the bull of the day.
The online specialist magazine STAT News reported that they had learned that the phase 3 studies currently underway have been very successful so far. Remdesivir was tested on 125 patients in a Chicago hospital, 113 of whom were seriously ill. Almost all patients were discharged within less than a week, and two died.
Will the company confirm good results?
The company itself said that the data still had to be analyzed to draw conclusions. The clinic indicated in an email that partial data from an ongoing study should not be used to derive results. In addition, she added that information from an internal forum for scientists was published without permission.
Official data from the Remdesivir study are expected at the end of April at the earliest. If Gilead actually manages to get the drug against Covid-19 approved, the share should trade significantly higher. However, it should be clear to investors: If this does not work, Gilead’s old problems should come to the fore again.