Analysts warn against 'pretty picture' painted by Gilead's coronavirus treatment
Gilead’s (GILD) promising antiviral treatment is fanning optimism in the increasingly uphill battle against the coronavirus pandemic, and sparking a market rally.
Yet some analysts have cautioned investors to curb their enthusiasm over the drug, called remdesivir, and the potential for it to be effective on a broader scale. Late Thursday, Gilead’s shares spiked — sending stock futures on a tear — after a leaked report published by medical news publication STAT revealed that a group of COVID-19 patients in Chicago saw “rapid recoveries” and eased symptoms.
Those results mirrored what Gilead had already published in a study of its own on April 10, when it reported positive results in 53 patients via a New England Journal of Medicine article. The company is expected to provide full clinical trial results by the end of the month, around the time Gilead reports quarterly earnings.
“We cannot draw definitive conclusions from these data, but the observations from this group of hospitalized patients who received remdesivir are hopeful," said Jonathan Grein, Director of Hospital Epidemiology at Cedars-Sinai Medical Center in Los Angeles, and lead author of the journal article. “We look forward to the results of controlled clinical trials to potentially validate these findings.”
https://finance.yahoo.com/news/analysts-warn-against-pretty-picture-painted-by-gileads-coronavirus-treatment-133340939.html
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