<p>Gilead Sciences (NASDAQ: GILD) news for Monday about a drug that may treat the new coronavirus from China has GILD stocks on the rise.
Source: Eyesonmilan / Shutterstock.com
The Gilead Sciences news comes from the World Health Organization (WHO). It claims that stradesivir may help fight the coronavirus. Remdesivir is a drug for testing and is not approved for use anywhere in the world.
Although remdesivir may not be approved, clinical trials are ongoing. This includes two trials in China with participating coronavirus patients. If the results of these trials go well, it may lead to a greater use of the drug to treat the disease.
China is not the only country with an interest in the drug Gilead Sciences. Several others are also testing to see what it can do. It includes several U.S. organizations, such as the U.S. Food and Drug Administration and the Centers for Disease Control and Prevention.
This is not the first time that GILD shares have received a boost from the Gilead Sciences news about coronavirus. The company announced near the beginning of the month that remdesivir may be effective in treating patients suffering from the disease.
At that time, the company saw its stock increase by 5%. It is also worth noting that the drug has been used in emergencies to treat other viruses. It includes Ebola, as well as MERS and SARS.
The GILD share increased by 3.39% as of Monday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/02/gilead-sciences-news-boost-gild-stock/.
© 2020 InvestorPlace Media, LLC