GILD Stock Up 2%, Gilead Says Remdesivir Coronavirus Treatment Reduces Risk of Death

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by Christopher Hamman · 3 min read
GILD Stock Up 2%, Gilead Says Remdesivir Coronavirus Treatment Reduces Risk of Death
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Gilead Sciences (GILD) stock price has risen on the news that Remdesivir saves more lives than it was previously thought. These results were revealed in a preliminary study.

Gilead Sciences Inc (NASDAQ: GILD) stock price has risen 2% on encouraging news on its wonder coronavirus drug Remdesivir. Sources say that new research points to life extension for elderly COVID-19 patients by as much as 62%. It is in contrast to regular treatment without the drug.

Gilead Sciences also indicated that the treatment “significantly improved clinical recovery.” These details were presented at the 23rd international AIDS conference. The virtual COVID-19 conference was a part of the AIDS event.

Gilead Sciences (GILD) stock is now trading at $76.19 (+1.98%).

Gilead (GILD) Stock Rises on Promising News about Its Coronavirus Drug

According to the company, it examined data gotten from 312 patients. They were contrasted against 818 patients who had similar symptoms with standard care and treatment regimens.

Dr. Susan Olender from the University of Columbia University Irving Medical Center said in a statement:

“While not as vigorous as a randomized controlled trial, this analysis importantly draws from a real-world setting and serves as an important adjunct to clinical trial data, adding to our collective understanding of this virus and reflecting the extraordinary pace of the ongoing pandemic.”

It draws on parallels and indicates that Remdesivir is more effective than previously thought.

The research shows that the patients treated with Remdesivir had a mortality rate of 7.6%. It is as opposed to 12.5 %for those who received standard treatments.

The findings also indicated that 59% of the patients who received standard care recovered within 14 days. This as opposed to 74.4% of patients who received Remdesivir treatment.

Gilead Sciences has indicated that the data on the coronavirus treatment is preliminary. Further studies are needed to determine the accuracy of these investigations.

Gilead Chief Medical Officer Dr. Merdad Parsey said:

“To address the urgency of the continuing pandemic, we are sharing data with the research community as quickly as possible with the goal of providing transparent and timely updates on new developments with Remdesivir.”

NIAID Also Gets Positive Results

Earlier this year the National Institute of Allergy and Infectious Diseases (NIAID) had conducted studies on Remdesivir. Preliminary results suggest that patients recovered 11 days earlier than the standard recovery timeline of 14 days.

The study couldn’t find any improvement in the death rates of patients who received Remdesivir as a test group. The major issue with the COVID-19 pandemic is that the situation is still evolving. There are still so many variables that studies haven’t accounted for.

Another issue with the variables has more to pre-existing conditions. The higher the spread of pre-existing conditions for patients, the higher the likelihood of mortality. Further research into the nature of the virus and how it works in the human body will give scientists a clearer picture of what exactly is going on.

For now, all we can do is stay safe and hope that the curve flattens on a global scale.

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Christopher Hamman

Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

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Gilead Sciences Inc, the American biopharmaceutical company behind the only approved drug for the treatment of COVID-19 known as Remdesivir (or Veklury) has released its third-quarter earnings in which the company posted better than expected earnings. Per the figures posted, GILD reported product sales of $6.5 billion, an 18% increment year-over-year.