Gilead surges after report suggests COVID-19 patients responding to remdesivir

FILE PHOTO: A Gilead Sciences Inc. office is shown in Foster City, California, U.S. May 1, 2018. REUTERS/Stephen Lam

(Reuters) – Shares of Gilead Sciences Inc (GILD.O) soared 15% on Thursday after a media report suggested that severe COVID-19 patients were positively responding to the drugmaker’s experimental treatment remdesivir.

A Chicago hospital treating COVID-19 patients with the antiviral medication as part of a trial is seeing rapid recoveries in fever and respiratory symptoms, with nearly all patients discharged in less than a week, according to medical news website SThere

There are other trials being run concurrently at other institutions.

There are currently no approved treatments for COVID-19, the highly contagious respiratory illness caused by the novel coronavirus that has infected over 2 million people worldwide.

Gilead did not immediately respond to request for comment.

Reporting by Ankur Banerjee in Bengaluru

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