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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDow futures rip 800 points higher amid report Gilead drug showing effectiveness treating coronavirus
U.S. stock futures surged on Thursday night 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.
Dow Jones Industrial Average futures were up 800 points, or about 3.4%. S&P 500 futures gained 3.2% while Nasdaq 100 futures were up by 2.1%.
Gilead shares jumped by 14% in after-hours trading after STAT news reported that a Chicago hospital treating coronavirus patients with Remdesivir in a trial were recovering rapidly from severe symptoms. The publication cited a video it obtained where the trial results were discussed.
This is obviously good news. Of course, weve heard a few other pieces of good news like this recently and they didnt pan-out as well as people had hoped, said Matt Maley, chief market strategist at Miller Tabak, in an email. The big question is whether its going to be enough to help the economy re-open more quickly than people are thinking right now.
https://www.cnbc.com/2020/04/16/sp-500-etf-jumps-2percent-after-hours-on-report-gilead-drug-showing-effectiveness-treating-coronavirus.html
Amishman
(5,555 posts)Before reality sets in and we crash sub 20k again, potentially way under 20k.
Current prices do not match expected earnings and growth. FOMO bubble.
uponit7771
(90,335 posts)DrToast
(6,414 posts)However you're right that it's not a silver bullet. It's difficult to manufacture and there won't be enough for everyone. Here's what Gilead projects:
More than 140,000 treatment courses by the end of May 2020
More than 500,000 treatment courses by October 2020
More than 1 million treatment courses by December 2020
Several million treatment courses in 2021, if required
https://www.gilead.com/purpose/advancing-global-health/covid-19/working-to-supply-remdesivir-for-covid-19
uponit7771
(90,335 posts)... testing regime?
tia
DrToast
(6,414 posts)It's been in development for a while. It was originally designed to treat Ebola, but it didn't work for it.
However, it's considered safe and will likely skip some safety steps of the FDA trials. Given the stakes, I imagine it will be fast tracked beyond belief.
It's over a decade old. Here's some history on it: https://www.statnews.com/2020/03/16/remdesivir-surges-ahead-against-coronavirus/
uponit7771
(90,335 posts)... isn't that the same thing that was wrong with the hydroxi whatever medicine?
Also, the company that is making the medicine is the one that says everything is cool and they have a money motivation for it.
Shouldn't this stuff be reviewed since it didn't work with the original intent?
seems like a move towards real zombies
Demsrule86
(68,552 posts)uponit7771
(90,335 posts)... has done this before with Ebola so I'm holding powder.
The biggest tell is the level of hospitalization needed and the fact that Red Don pushed it and nothing he touches is good.
Demsrule86
(68,552 posts)vaccine.
Remdesivir
This is an antiviral drug that has been tried in the battles against other coronaviruses, such as SARS and MERS, with mixed results. It was originally designed to fight Ebola.
The drug is undergoing several trials, with at least four Chicago hospitals taking part by testing it on moderately and severely ill COVID-19 patients. They include Northwestern Memorial Hospital, University of Illinois Hospital and Rush University Medical Center, all of which are participating in a scientific study sponsored by the National Institutes of Health.
Vials of the drug remdesivir are displayed at a news conference about the start of a study to use the drug in severely ill coronavirus patients at the University Medical Center Eppendorf in Hamburg, Germany, on April 8, 2020.
The Cook County Health and Hospitals System, which includes Stroger Hospital, is taking part in a study sponsored by Gilead, the drugs maker.
In animal models, in monkey models, the drug works by directly inhibiting the viruss ability to replicate in high numbers, explained Huhn, the infectious disease specialist at Stroger. In humans, we believe it works by the same mechanism to limit the amount of virus that can be accelerated in high numbers throughout the body that can lead to lung damage.
https://www.chicagotribune.com/coronavirus/ct-coronavirus-treatments-hydroxychloroquine-plasma-remdesivir-20200410-6kyzro2ahvb5rn57jzgy4dvj4y-story.html
Huhn said its way too early to tell how well the intravenous drug will work, but some early signs give him hope.
Among the numerous patients that weve enrolled, weve had a handful that have been discharged already off oxygen, Huhn said. So, very much too early to tell, but certainly when any patient is discharged off oxygen, thats an encouraging sign to us.
Novak, the UIC infectious disease chief, said the drug may be more effective on patients whose disease is less serious. My feeling, and I could be wrong on this, is that its probably going to help people with earlier disease who enroll in the study rather than people with more advanced disease, he said.
As with hydroxychloroquine, remdesivir has also been prescribed by some doctors outside of the studies under the compassionate use exception, but that exception has since been limited to pregnant women and people under the age of 18, Huhn said.
uponit7771
(90,335 posts)... on this drug it was all anectdotal crap from a leaked meeting.
CNBC had multiple segments on it this morning, this company has pumped and dumped before
Demsrule86
(68,552 posts)an RNA virus...like Aids...so it remains to be seen the damage it can do on a continuing basis ...much we don't know yet.
uponit7771
(90,335 posts)Yavin4
(35,437 posts)There are seats on the lifeboats, but they're going fast.
empedocles
(15,751 posts)get sharp rebounds.
The damage done already has not been accounted for - it seems.
Yavin4
(35,437 posts)It actually started in March 2008 when Bear Stearns went under. It was handled with grace because JPM Chase bought them for peanuts. Everyone thinks that it started with Lehman in the fall, but it didn't.
All through 2008 the markets never really declined until Lehman. However, it still took until March 2009 for the markets to completely bottom. We've been going up ever since then.
The lesson here is that it takes the markets a while to reflect the true underlying effects of the economy.
Blue_true
(31,261 posts)Bear Stearns cradled, but the FED arranged a buyout of the firm. The stock market started to go up pretty nicely, I got my ass to the sidelines. Then in the Fall, Lehman hit like a bomb, there was no mistaking things at that point, the US financial system had big issues. And then finance issues with US automakers got worse.
Yavin4
(35,437 posts)It wasn't Hurrican Katrina that did damage to New Orleans. It was the flooding from the damaged levies.
For this, it's the virus, the quarantine, and the unemployment. The markets have not yet priced these negative events in yet because they cannot assess the cascading damage of each event.
empedocles
(15,751 posts)[Often read of conservative market 'seers' claiming to have 'fact based' methodologies; and then go off on vehemently anti-government tirades - and never say 'trump']. Messy world.
dawg
(10,624 posts)While I'd much rather get dosed with Remdesivir and go home with another $10,000 out-of-pocket hospital bill than to die on a respirator, what I'd *really* like to do is to not contract Covid19 in the first place.
Even if the drug proves to be a highly effective treatment, I'm still not going to want to go to a crowded restaurant, see a show, or ride on a plane. And don't even think about a fucking cruise.
So there's a lot of damage already done to the economy that Gilead won't be able to cure, even if the drug turns out to be a godsend.
Blue_true
(31,261 posts)You make a powerful point, who wants to become gravely ill to be saved. But I don't think you properly considered people, tens of millions of Americans will resume life like nothing happened, knowing that worse case, a drug could save them from dying.
dawg
(10,624 posts)but we need *everyone* to go back to normal to reverse the very significant damage to the economy that has already taken place. And the market is only down 13% or so YTD. IMHO, that isn't enough to even discount the economic trauma that is already baked in, much less the possibility that a successful treatment and/or vaccine proves to be more elusive.
Shermann
(7,412 posts)uponit7771
(90,335 posts)mobeau69
(11,141 posts)Takket
(21,562 posts)here's the article about it. 125 recruits and 113 had "severe" disease. most have gone home and only 2 died........
https://www.statnews.com/2020/04/16/early-peek-at-data-on-gilead-coronavirus-drug-suggests-patients-are-responding-to-treatment/
More data is needed but this is a great start as opposed to hydroxycholorquine which was hyped based on nothing more than a very small study of people that were not very sick with covid to begin with.
mobeau69
(11,141 posts)uponit7771
(90,335 posts)... company had something similar for Ebola and it didn't work.
I'm holding my powder waiting on them to give the "locked" data.
Anything Trump touches dies
Thomas Hurt
(13,903 posts)DFW
(54,358 posts)But if there are serious mutations beforehand, then it's back to square one if the first generation of vaccines only treats one version.
uponit7771
(90,335 posts)... understanding it's minimum is 6 months
DFW
(54,358 posts)I don't even know what they consider to be a "breakthrough." It was from someone who worked there, but not involved in the actual research.
VMA131Marine
(4,138 posts)Remember that most people who get this virus recover. The gold standard for showing this particular treatment works is to show a statistically significant difference between the patients getting the drug and the control group. So even if one group appears to be doing better than the other it doesnt mean its the drug doing it, just statistical variation in the population.
At least it doesnt seem to be doing any harm, which is the first step.
Buckeye_Democrat
(14,853 posts)uponit7771
(90,335 posts)Which means what?
This is like the guy in socal giving out hydrox whatever and zinc
The levels of severity are not confirmed and "hospitalized" doesn't tell is that, the drug is reviewed internally.
If this was a test of only intubated then I'd be screaming for joy.
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-gilead-boeing-coronavirus-stock-market-rally-wave/
Dem2
(8,168 posts)It's not that hard to remember, I got it correct the 1st attempt.
Rstrstx
(1,399 posts)There is no report, the "data" came from a leaked video conversation. The whole story is being used as a pump-and-dump scheme
https://www.zerohedge.com/health/gilead-pours-cold-water-report-sent-market-soaring-anecdotal-reports-no-statistical-power
uponit7771
(90,335 posts)... is boring is going to continue building airplanes as if somehow that helps because no one's going to fly in them
Nonhlanhla
(2,074 posts)This has been hailed as the best potential drug treatment for Covid since January, and it's been undergoing multiple trials to see if it's effective against Covid. It's already been through safety trials when it was first developed (as a potential Ebola drug) a few years go, so if this works against Covid, it can be approved pretty quickly.
So this is great news, although it's still early days and we still have to see what the other trials show.
greytdemocrat
(3,299 posts)If you want good news. It's amazing how many
people here don't seem to want good news.
uponit7771
(90,335 posts)And there's no scientific information in regards to why this drug works just a leaked conversation
uponit7771
(90,335 posts)Rstrstx
(1,399 posts)uponit7771
(90,335 posts)ck4829
(35,062 posts)superpatriotman
(6,247 posts)The overnight excitement over the trial at University of Chicago Medicine does not come from any official disclosure of results but from a video leaked to Stat, a healthcare publication.
uponit7771
(90,335 posts)SoonerPride
(12,286 posts)And not wild speculation and rumors.
Funny how its just a casino in suits.
Anyone buying now is asking to be wiped out.
Shermann
(7,412 posts)I'm going to lighten up a little more today and lock in a piece of it
mobeau69
(11,141 posts)Everybody's in a different place. Good luck.