New post
George Ma
in
Stocks
April 30 08:42

U.S. stock market soared amid the news over successful antivirus drug trials

Gilead Sciences reports that its antiviral medicine, Remdesivir, is successfully undergoing coronavirus trials.
56
1
Before the opening of yesterday's trading session, futures for the S&P 500 index soared by 1.5% after news on positive clinical trials of Remdesivir, a drug that allegedly can treat Covid-19 infected patients.
Pharmaceutical company Gilead Sciences, one of the creators of medicine, reported citing the U.S. National Institute of Allergy and Infectious Diseases (NIAID) that the trials have achieved their primary goal, and more information will be announced at a subsequent briefing.
Remdesivir has not yet been approved by FDA, but it has been used for more than a month to treat patients with positive Covid-19 test result.
On April 23rd it was reported that the drug had clinical trials result remained inconclusive. However, more than a half of treated with Remdesivir patients left the hospital by the 14th day, reports Bloomberg.
Gilead Sciences plans to receive more information on the effectiveness of Remdesivir in treating the new coronavirus in late May.