Gilead Drug Shows COVID-19 Isn't Guaranteed 'Death Sentence,' Jim Cramer Says
Let's go over the markets.
Stocks rose Wednesday as investors embraced positive news on a drug to combat the coronavirus and looked past data that showed a sharp contraction in U.S. growth in the first quarter.
Gilead's remdesivir received some positive news on Wednesday.
Gilead said the drug met a government study primary endpoint.
Remdesivir is being tested in multiple clinical trials and it is being used to treat severely ill COVID-19 patients who have been hospitalized.
The study is being conducted by the National Institute of Allergy and Infectious Diseases.
Meanwhile, growth in the U.S. registered its first contraction in six years and its sharpest drop since the last recession during the first quarter as the coronavirus pandemic shut down the economy.
Watch the full video above for Cramer's full take.
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