Stock market takes a sharp upturn after coronavirus drug shows promising results

Stock market takes a sharp upturn after coronavirus drug shows promising results

Stock market takes a sharp upturn after coronavirus drug shows promising results

Remdesivir has demonstrated a potent ability to inhibit this viral replication in human cells and is now being tried in clinical trials of patients with the SARS-CoV-2 virus, which causes COVID-19.

"We will have answers, some good answers in a couple of months from now, whether remdesivir or any of the drugs that are right now in randomized clinical trials, whether they show benefit to certain patients or not", said Gotte.

GlobalData suggested recently that remdesivir's antiviral mechanism means it "has the potential to decrease viral load in less-severe patients" with COVID-19, but that in those who are more critically ill "the disease's inflammatory impact becomes the more significant factor to address". Two patients died but most of the rest have already been discharged after their symptoms eased significantly. The treatment has not been approved for use anywhere in the world.

In fact, a report about the drug's effectiveness caused USA stock futures to surge on Thursday night. However, ICMR is awaiting developments of the World Health Organisation's Solidarity Trial. "We've only had two patients perish", University of Chicago infectious disease specialist Kathleen Mullane said, according to STAT News, which obtained a video of her remarks.

"But certainly when we start [the] drug, we see fever curves falling", she said. While the trial in moderate patients contains a placebo group, Gilead's trial of severe patients does not.

What does this early peek at the data tell us?

Working with pharmaceutical company Gilead Sciences, Remdesivir's manufacturer and sponsor of the studies, Houston Methodist Hospital was the fifth site in the U.S.to join the clinical trials and has been enrolling and treating patients since mid-March.

Earlier in a government briefing, Indian Council of Medical Research said that there have been early reports of Covid-19 patients showing improvements after Remdesivir was given during treatment. But it said a few stories about patients are just that - stories.

Those results are not expected until after Gilead's trial reads out.

A Gilead Sciences Inc. office is shown in Foster City, California, U.S. May 1, 2018.

Shares of Gilead, which closed at $76.54 in regular trading, were up 16% at $89.10 after hours.

Someone needs to write a novel!

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