Gilead remdesivir trial for Covid-19 meets primary target

Gilead Sciences (NASDAQ:GILD) says it’s aware of positive data emerging from the National Institute of Allergy and Infectious Diseases’ (“NIAID”) study of the investigational antiviral remdesivir for the treatment of COVID-19.

“We understand that the trial has met its primary endpoint and that NIAID will provide detailed information at an upcoming briefing,” company says.

The NIAID trial aimed to sign up 600-800 patients and give a definitive answer as to whether remdesivir can help treat the virus.

Separately, GILD published results from its phase 3 SIMPLE trial evaluating 5-day and 10-day dosing durations of the investigational antiviral remdesivir in hospitalized patients with severe manifestations of COVID-19 disease. Says patients receiving a 10-day treatment course of remdesivir achieved similar improvement in clinical status compared with those taking a 5-day treatment course.

“Gilead will continue to discuss with regulatory authorities the growing data set regarding remdesivir as a potential treatment for COVID-19,” it says.

“Unlike traditional drug development, we are attempting to evaluate an investigational agent alongside an evolving global pandemic. Multiple concurrent studies are helping inform whether remdesivir is a safe and effective treatment for COVID-19 and how to best utilize the drug… The study demonstrates the potential for some patients to be treated with a 5-day regimen, which could significantly expand the number of patients who could be treated with our current supply of remdesivir. This is particularly important in the setting of a pandemic, to help hospitals and healthcare workers treat more patients in urgent need of care.”

Remdesivir is not yet licensed or approved anywhere globally.

Shares are halted. Trading to resume at 9:00. Prior to the halt, shares were flat at $78.82.

The news appeared to lift index futures, which jumped immediately after GILD issued the first pr

Source: Press release I, press release II

https://seekingalpha.com/news/3565991-gilead-remdesivir-trial-for-covidminus-19-meets-primary-target