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July 10, 2020, 9:07 a.m. EDT

A new Gilead analysis indicates remdesivir can reduce death but company says finding 'requires confirmation'

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By Jaimy Lee

Shares of Gilead Sciences Inc. /zigman2/quotes/210293917/composite GILD +0.02% gained 2.0% in premarket trading on Friday after the drugmaker disclosed findings from a new analysis of previously disclosed clinical trial data that found the experimental therapy remdesivir can reduce the risk of mortality in COVID-19 patients by 62%, when compared to the standard of care. Gilead said the mortality data point is "an important finding that requires confirmation in prospective clinical trials." The new analysis is not from a randomized, placebo-controlled clinical trial; it stems from a comparative, pre-planned analysis of 312 severely ill participants in a randomized, open-label Phase 3 trial and a real-world retrospective cohort of 818 patients with COVID-19 who had similar clinical attributes to those included in the trial and received remdesivir as part of their treatment. The new analysis may also help reinforce previous conclusions from a randomized, placebo-controlled National Institutes of Health trial that found remdesivir can reduce recovery times, a finding that was published in April and contributed to the Food and Drug Administration's decision in May to grant an emergency use authorization to remdesivir. Gilead's stock has gained 14.9% year-to-date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.12% is down 2.4%.

/zigman2/quotes/210293917/composite
US : U.S.: Nasdaq
$ 65.05
+0.01 +0.02%
Volume: 14.26M
Sept. 18, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
4.18%
Market Cap
$81.55 billion
Rev. per Employee
$2.02M
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/zigman2/quotes/210599714/realtime
US : S&P US
3,319.47
-37.54 -1.12%
Volume: 4.09B
Sept. 18, 2020 5:15p
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