As a potential dampener for risk appetite Gilead has explained that the anecdotal reports do not provide statistical power necessary to determine safety, efficacy profile of remdesivir as a treatment for COVID-19.
Expect data from phase 3 study in patients with severe COVID-19 infection to be available at the end of April.
This follows the story where CNBC reported that “the ETF that tracks the S&P 500 rallied in after-hours trading Thursday after a report said a Gilead Sciences drug was showing effectiveness in treating the coronavirus. The move pointed to a jump for the stock market on Friday.”
More on that here:
-
S&P 500 ETF jumping 2% on report Gilead drug showing effectiveness treating coronavirus
-
S&P 500 Futures jump above 3.0% as Gilead’s Remdisivir, US Pres. Trump propel risk-tone