Gilead Sciences (GILD -3.1%) has submitted a request to the FDA to rescind Orphan Drug status for antiviral remdesivir for COVID-19, a designation granted by the agency only two days ago.
The company says it can maintain an expedited
timeline for regulatory review without the designation which is intended
to apply for diseases affecting no more than 200K Americans.
According to Johns Hopkins Case Tracker, confirmed U.S. coronavirus cases now total 55,568 (+8,763 from yesterday).
https://seekingalpha.com/news/3555135-gilead-to-withdraw-orphan-drug-tag-for-remdesivir-shares-down-3
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