Jim Cramer: Don't Buy Gilead on Remdesivir News
Gilead released some positive news about remdesivir early Wednesday morning.
The drugmaker was briefly halted in premarket trading and then released that remdesivir--its experimental 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.
Remdesivir has been getting a slew of headlines--both good and bad--in the past couple of weeks.
Stat News reported positive findings based on a leaked video from a trial in Chicago on April 16 and then the World Health Organization accidentally posted a study on remdesivir from China, which reportedly showed that the drug wasn't helping to speed up the recovery of patients with COVID-19. Gilead had said, however, that the data noted a "potential benefit."
Watch the full video above for Cramer's full take.
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