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Convalescent Plasma Treatment Isn't New, Jim Cramer Says

Jim Cramer weighs in on the FDA's emergency use authorization for convalescent plasma use.

There are over 23.4 million cases of the coronavirus worldwide, with over 809,000 deaths.

According to Johns Hopkins, the U.S. has surpassed 5.7 million cases with over 176,000 deaths.

Per the COVID-19 Tracking Project, there were 38,234 new cases reported Sunday. 611,382 new tests were reported. And 572 deaths were reported yesterday.

The Food and Drug Administration issued an "emergency use authorization" for convalescent plasma as a treatment of COVID-19 in hospitalized patients.

The FDA said that based on the scientific evidence currently available, it has concluded the antibody-rich plasma "may be effective" in treating Covid-19. It also concluded that the potential benefits outweigh the potential risks.

President Donald Trump said Sunday at a White House news conference that, “This is a powerful therapy…[This] action will dramatically expand access to this treatment.”

"[Sunday's] action follows the FDA’s extensive review of the science and data generated over the past several months stemming from efforts to facilitate emergency access to convalescent plasma for patients as clinical trials to definitively demonstrate safety and efficacy remain ongoing," the FDA said in a statement.

So, what does Jim Cramer think about this treatment? Watch the video above for more.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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