Gilead’s stock drops after Stat report on weak data from China’s remdesivir trial

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Gilead Sciences Inc. shares
BROWN,
-6.21%

Thursday down 5.3% after Stat News report that a draft clinical trial results for remdesivir, an investigational drug tested for the treatment of COVID-19, showed that the drug did not accelerate improvement in patients in China or prevent them from dying. The summary was posted on the World Health Organization (WHO) website and then withdrawn, said Stat. A WHO spokesman confirmed the summary, telling the media that the manuscript is under peer review and was published by accident. Earlier this month, Chinese authorities suspended two trials for remdesivir, saying there were not enough patients to enroll fully in the studies. A Gilead spokesperson told Stat “the message contained an inappropriate characterization of the study.” Remdesivir is one of the many drugs tested as a potential treatment for seriously and moderately ill COVID-19 patients; he is widely regarded as a pioneer in efforts to treat the disease caused by the new coronavirus. Gilead’s title is up 18.8% since the start of the year, while the S&P 500
SPX,
+ 0.14%

is down 13.3%.

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