Why Gilead Sciences Stock Is on Fire Today
Shares of the large-cap biotech Gilead Sciences (NASDAQ: GILD) jumped by as much as 16.1% in after-hours trading Thursday afternoon. The biotech's stock leaped higher after an encouraging report by the science and medical news website STAT suggesting that Gilead's antiviral medication remdesivir may be effective at treating patients hospitalized with severe cases of COVID-19.
While the preliminary data shouldn't be taken as gospel by either patients or investors, these initial results are impressive nonetheless. In one trial by the University of Chicago Medicine, for instance, researchers reported that the vast majority of patients treated with remdesivir were discharged in less than a week, and only two patients died during the study.
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Source Fool.com
