Gilead develops experimental Coronavirus treatment

Gilead develops experimental Coronavirus treatment

The fight against the virus intensifies, as Gilead tries to put on the market a viable treatment. Also, they pledged to give 1 million doses for free to people who have severe symptoms.

“We know the desperate urgency of reaching these patients and believe that the expanded access program will help to accelerate the process," CEO Daniel O'Day declared. The company is said to provide approximately 1.5 million doses of Remdesivir, one of the medicines that showed efficiency against the virus. These doses can help around 140,000 patients, with no payment necessary from hospitals and clinics.

After this announcement, the company shares started 2% higher in pre-market trading, and the analysts are expecting to have an opening price of $79.80. That wasn’t the case, as it closed the trading session at $77.73, a drop of 0.61%.

The company managed to reduce the manufacturing time from one year to six months. It set a goal of 1 million treatment courses by the end of the year.

Trials already started with 1,000 patients suffering from moderate and severe infection symptoms. Patients received different doses to treat the symptoms as Phase 3 of a study, after WHO declared that this possibly is the "only one drug right now that we think may have real efficacy."

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Sources: yahoo.com, thestreet.com

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