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Gilead Down on Suspension of Coronavirus Study in China
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Shares of Gilead Sciences, Inc. (GILD - Free Report) fell 4% after a study on experimental antiviral, remdesivir, in adults with mild-and-moderate COVID-19 in China was suspended, as there weren’t any eligible patients to be recruited.
Earlier, another study on remdesivir in adults with severe COVID-19 was terminated in China due to the lack of eligible patients.
Remdesivir is an investigational nucleotide analog with broad-spectrum antiviral activity in both vitro and vivo in animal models against multiple emerging viral pathogens, including Ebola, Marburg, MERS and SARS.
Currently, there are no FDA-approved treatments for the severe illness caused by SARS-CoV-2. Given the alarming levels of spread and severity, some approved drugs or pipeline candidates are being tested to see if these are effective in treating the infected patients.
Earlier, Gilead announced promising results from a cohort analysis of 53 patients hospitalized with severe complications of COVID-19, who were treated with the investigational antiviral remdesivir on an individual compassionate use basis. The majority of patients in this international cohort demonstrated clinical improvement and no new safety signals were identified with remdesivir treatment. However, compassionate use data have limitations and multiple phase III studies are ongoing to determine the safety and efficacy of remdesivir in the treatment of COVID-19.
Currently, Gilead is conducting two phase III studies on remdesivir — the SIMPLE studies — in countries with a higher prevalence of COVID-19. Data from the study in patients with severe disease are expected later this month, while data from the study in patients with moderate disease are expected next month.
Meanwhile, a global study of remdesivir led by NIAID continues to enroll patients and data from this study are expected next month.
Gilead’s shares have gained 14.9% this year so far against the industry’s decline of 5.1%.
As remdesivir has shown promising results in infected patients, investors are banking on Gilead for being the first company to come up with a treatment for this deadly disease. The stock will remain in the spotlight as the pandemic is unlikely to die out soon. A positive outcome from any of these studies will be a significant boost for Gilead, which is a leader in antiviral therapies.
While the company is pioneering the race for developing a potential cure for COVID-19, other pharma/biotech companies have joined the bandwagon as well.
Regeneron Pharmaceuticals (REGN - Free Report) has identified antibodies, which can possibly treat coronavirus. Regeneron and partner Sanofi (SNY - Free Report) are also evaluating their rheumatoid arthritis (RA) drug, Kevzara, to treat patients hospitalized with severe infection due to COVID-19. Roche (RHHBY - Free Report) is evaluating Actemra for the same.
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Gilead Down on Suspension of Coronavirus Study in China
Shares of Gilead Sciences, Inc. (GILD - Free Report) fell 4% after a study on experimental antiviral, remdesivir, in adults with mild-and-moderate COVID-19 in China was suspended, as there weren’t any eligible patients to be recruited.
Earlier, another study on remdesivir in adults with severe COVID-19 was terminated in China due to the lack of eligible patients.
Remdesivir is an investigational nucleotide analog with broad-spectrum antiviral activity in both vitro and vivo in animal models against multiple emerging viral pathogens, including Ebola, Marburg, MERS and SARS.
Currently, there are no FDA-approved treatments for the severe illness caused by SARS-CoV-2. Given the alarming levels of spread and severity, some approved drugs or pipeline candidates are being tested to see if these are effective in treating the infected patients.
Earlier, Gilead announced promising results from a cohort analysis of 53 patients hospitalized with severe complications of COVID-19, who were treated with the investigational antiviral remdesivir on an individual compassionate use basis. The majority of patients in this international cohort demonstrated clinical improvement and no new safety signals were identified with remdesivir treatment. However, compassionate use data have limitations and multiple phase III studies are ongoing to determine the safety and efficacy of remdesivir in the treatment of COVID-19.
Currently, Gilead is conducting two phase III studies on remdesivir — the SIMPLE studies — in countries with a higher prevalence of COVID-19. Data from the study in patients with severe disease are expected later this month, while data from the study in patients with moderate disease are expected next month.
Meanwhile, a global study of remdesivir led by NIAID continues to enroll patients and data from this study are expected next month.
Gilead’s shares have gained 14.9% this year so far against the industry’s decline of 5.1%.
As remdesivir has shown promising results in infected patients, investors are banking on Gilead for being the first company to come up with a treatment for this deadly disease. The stock will remain in the spotlight as the pandemic is unlikely to die out soon. A positive outcome from any of these studies will be a significant boost for Gilead, which is a leader in antiviral therapies.
While the company is pioneering the race for developing a potential cure for COVID-19, other pharma/biotech companies have joined the bandwagon as well.
Regeneron Pharmaceuticals (REGN - Free Report) has identified antibodies, which can possibly treat coronavirus. Regeneron and partner Sanofi (SNY - Free Report) are also evaluating their rheumatoid arthritis (RA) drug, Kevzara, to treat patients hospitalized with severe infection due to COVID-19. Roche (RHHBY - Free Report) is evaluating Actemra for the same.
Gilead currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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