Jim Cramer: People Don't Live in Fear of COVID-19, They Live in Fear of Death
Gilead apparently has market-moving potential.
In intraday trading Thursday, Gilead shares fell after a potential antiviral drug for the coronavirus failed its first randomized clinical trial, a report said.
The Chinese trial showed remdesivir, which was developed by the Foster City, Calif., biopharma, did not improve patients’ condition or reduce the pathogen’s presence in the bloodstream, according to the Financial Times, which cited draft documents published accidentally by the World Health Organization.
“In this study of hospitalized adult patients with severe COVID-19 that was terminated prematurely, remdesivir was not associated with clinical or virological benefits,” the summary stated.
Gilead warned that the post included “inappropriate characterizations of the study.”
"We regret that the WHO prematurely posted information regarding the study, which has since been removed," Gilead said in a statement. "The investigators in this study did not provide permission for publication of results. Furthermore, we believe the post included inappropriate characterizations of the study. Importantly, because this study was terminated early due to low enrollment, it was underpowered to enable statistically meaningful conclusions."
Watch the full video above for Jim Cramer's full take.
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