Gilead Sciences Inc. (GILD) shares are rallying after the company announced more trials for Coronavirus treatment. The company has initiated two Phase 3 clinical studies to evaluate the safety and efficacy of remdesivir in adults diagnosed with COVID-19 (novel coronavirus). These randomized, open-label, multicenter studies will enroll about 1,000 patients at medical centers primarily across Asian countries, as well as other countries globally with high numbers of diagnosed cases, beginning in March. The initiation of these studies follows the FDA rapid review and acceptance of Gilead's investigational new drug (IND) filing for remdesivir for the treatment of COVID-19.
Shares of Regeneron Pharmaceuticals Inc. (REGN) are rising as Coronavirus outbreak intensifies. Earlier this month, Regeneron said it expanded an agreement with the U.S. Department of Health and Human Services to develop a treatment for coronavirus or 2019-nCoV. The company said it will use its proprietary, rapid response technology - VelociSuite - to develop a promising antibody to combat the outbreak.
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