Here's a Better Reason to Buy Gilead Sciences Stock Than a Possible Coronavirus Treatment

Gilead Sciences (NASDAQ: GILD) just might have moved into the pole position in the race to fight the coronavirus. On Friday, the big biotech announced that it's working with Chinese authorities on a clinical trial to evaluate remdesivir, which was unsuccessful as a treatment for Ebola, in treating the 2019-nCoV coronavirus strain that has caused serious health concerns throughout the world.

Remdesivir has previously demonstrated potential against MERS and SARS, two other coronaviruses that are similar in structure to 2019-nCoV. A study published in The New England Journal of Medicine last week reported that a man in Washington state with the coronavirus strain experienced improvement after being treated with Gilead's experimental drug.

Optimism about remdesivir fueled investors' excitement on Monday, sending Gilead's shares as much as 8.7% higher during the day. But there's an even better reason to consider buying Gilead stock now than its prospects for treating the coronavirus.

Source Fool.com