Recently, a leaked anecdotal report that expensive new drug remdesivir was working wonders in a Chicago hospital drove stock prices up around the world. Today, though, bad news.
Thursday, 23 April 2020 17:01 GMT\April 23 (Reuters) – Gilead Sciences Inc’s experimental coronavirus drug failed its first randomised clinical trial, the Financial Times reported on Thursday, citing draft documents published accidentally by the World Health Organization.
Trading in the shares of the company was halted after they fell 6%.
The Chinese trial showed the antiviral remdesivir did not improve patients’ condition or reduce the pathogen’s presence in the bloodstream, the report https://on.ft.com/2VumJIA said.
Researchers studied 237 patients, giving the drug to 158 and comparing their progress with the remaining 79. The drug also showed significant side effects in some, which meant 18 patients were taken off it, according to the Financial Times.
This doesn’t mean this drug is hopeless. Maybe it works better at a different stage?