In recent developments this week, a new report unveiled by Gilead Sciences shows improvement with the remdesivir drug suggesting shorter treatment.
It has been a roller-coaster month for Gilead as the entire world is hoping for a cure that can possibly beat the coronavirus as it also has the markets on its toes.
Gilead recently released a preliminary report implying that 50% of the patients treated with a five-day dosage of remdesivir improved and more than half were discharged from the hospital within two weeks.
The clinical trial comprised 397 patients with critical cases of COVID-19. However, The study was one-sided as it did not evaluate the drug against a control group of patients who didn’t receive the drug.
Dr. Scott Gottlieb described remdesivir as “part of a better toolbox” for administering with the coronavirus. But he mentions on CNBC’s “Squawk Box” that it’s not a cure as he adds:
“It’s not going to be a cure, but it is going to be a drug potentially that if you use it particularly early in the course of the disease…it could reduce their chances of having a really bad outcome.”
Fausi: Remdesivir ‘a new standard of care’
White House health advisor Dr. Anthony Fauci speaking to reporters claims that the drug currently carries “quite good news” setting a new standard of care for COVID-19 patients.
In addition, Fauci said that the average time of recovery for patients receiving the drug was 11 days, in comparison to 15 days in the placebo group.
With regards to the mortality benefit of remdesivir, he adds that “no statistical significance” has been reached yet.
FDA wants the drug available ‘as soon as possible’
The Food and Drug Administration (FDA) is currently showing interest in Gilead Sciences’ developments regarding remdesivir that they want it available to the public as soon as possible.
FDA spokesman Michael Felberbaum told CNBC that both the FDA and Gilead are engaged in “sustained and ongoing” discussions in making remdesivir available in the soonest time.
As President Donald Trump continues to push for mass testing, if this drug gets its approval through the proper channels, the U.S. may stand a chance in fighting this coronavirus.
Also, despite the back and forth reports that remdesivir has been getting this month, it seems like the healthcare sector is looking at a silver lining.
Investors are in anticipation to see if the developments from Gilead Sciences can trigger another market rally before the month ends.