Why Gilead Sciences Shares Rose 18.4% in the First Half
Shares of Gilead Sciences (NASDAQ: GILD) rose 18.4% the first half, according to data provided by S&P Global Market Intelligence, as hospitals began using its drug remdesivir to treat COVID-19 patients.
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Early into the health crisis, Gilead began testing remdesivir as a possible treatment for the illness caused by the novel coronavirus. The antiviral initially had been studied in other coronaviruses -- severe acute respiratory syndrome (SARS) and Middle East respiratory syndrome (MERS). More recently, remdesivir entered clinical trials for COVID-19, and as promising data emerged, the U.S. Food and Drug Administration granted the drug Emergency Use Authorization.
Source Fool.com
