Citing WHO documents, the FT reports that Gilead’s (NASDAQ:GILD) remdesivir has failed in its first randomized clinical trial.
Gilead is saying the WHO post includes “inappropriate characterizations of the study.”
Up more than 1% prior to the news, the major averages have given back more than half of those gains. The S&P is now higher by 0.4%.
It was about one week ago when positive anecdotal news about remdesivir out of Chicago helped send markets surging.
https://seekingalpha.com/news/3563778-report-of-remdesivir-flop-takes-steam-out-of-stocks
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