Shares of Gilead Sciences (NASDAQ:GILD) are up 12% in premarket action after formalizing
an agreement with Chinese authorities to study the effectiveness of an
experimental Ebola and SARS treatment on patients infected with the
coronavirus.
“Gilead is working with health authorities in
China to establish a randomized, controlled trial to determine whether
remdesivir can safely and effectively be used to treat 2019-nCoV,” the
company said in a statement. “While there are no antiviral data for
remdesivir that show activity against 2019-nCoV at this time, available
data in other coronaviruses give us hope.”
Trials for the drug will be conducted in Wuhan, the central Chinese city that is ground zero for the current outbreak.
https://seekingalpha.com/news/3537139-gileadplus-12-on-coronavirus-treatment-testing
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