University of Chicago Medicine researchers said Thursday afternoon report saw “quick cures” in 125 COVID-19 patients taking experimental remdesivir from Gilead Sciences Inc. in a clinical trial .
Gilead Sciences Inc. shares
The stock market jumped 12.7% on Thursday after the release of the Stat News report.
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According to Stat, 125 people with COVID-19 receiving treatment at the University of Chicago are participating in two phase 3 clinical trials conducted by Gilead; 113 of them have severe forms of the disease. Stat said he obtained a videotaped videotape of the trial from University of Chicago faculty members in which a doctor said that when some people started taking the drug, fevers went down and others fans.
One trial evaluates remdesivir in 2,400 people with severe forms of the disease, the other tests the drug in 1,600 moderately ill patients. Both trials are carried out at several sites around the world. According to ClinicalTrials.gov, the two trials started in March and are scheduled to end in May.
In a statement to Stat News on Thursday, Gilead said, “What we can say at this point is that we are looking forward to the availability of data from the ongoing studies. “
It was a dramatic week for Gilead’s stock, starting with the publication on Friday of a small set of clinical data showing that 68% of the 53 hospital patients who received remdesivir on a compassionate basis showed clinical improvement. At that time, a J.P. Morgan analyst called the data “a promising first look” but cautioned that the results “should be kept in context”.
Shares fell on Wednesday after the update of the list of clinical trials to indicate that the Chinese authorities had stopped recruiting for a clinical trial of remdesivir in critically ill COVID-19 patients. Shares have risen again following a Bloomberg News report that Gilead plans to acquire a stake in Arcus Biosciences Inc.
Gilead title gained 17.8% since the start of the year, while the S&P 500
is down 13.8%.