Market Overview

Gilead Falls On Mixed Results From Late-Stage Remdesivir Study In Moderate COVID-19

Gilead Falls On Mixed Results From Late-Stage Remdesivir Study In Moderate COVID-19

Gilead Sciences, Inc. (NASDAQ: GILD) shares have come under selling pressure after the company released results Monday from a Phase 3 study of its COVID-19 treatment candidate remdesivir.

Gilead's Mixed Remdesivir Data

The company announced topline results from the Phase 3 SIMPLE study in hospitalized patients with moderate COVID-19 pneumonia. The results showed patients in the five-day remdesivir treatment group were 65% more likely to have clinical improvement at day 11 compared with those in the standard of care group.

The open-label study evaluated five-day and 10-day courses of remdesivir plus standard of care versus standard of care alone.

The 10-day treatment course of remdesivir versus standard of care — though producing favorable results — did not reach statistical significance, Gilead said.

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

The company noted that no new safety signals were identified in the study.

"These study results offer additional encouraging data for remdesivir, showing that if we can intervene earlier in the disease process with a five-day treatment course, we can significantly improve clinical outcomes for these patients," said Francisco Marty, a practicing physician and a professor of medicine at Harvard Medical School.

Gillead's remdesivir has emergency use authorization in the U.S., while it is approved for COVID-19 treatment in Japan.

Gilead said it plans to submit full data for publication in a peer-reviewed journal in the coming months.

GILD Price Action

Gilead shares were down 4.21% at $74.55 at the time of publication Monday.

Related Links:

The Week Ahead In Biotech: ASCO, Menlo And Merck FDA Decisions, IPOs In The Spotlight

Gilead Works To 'Maximize Global Supply' Of Coronavirus Candidate Remdesivir Amid Threat Of Patent Loss


Related Articles (GILD)

View Comments and Join the Discussion!

Posted-In: Coronavirus Covid-19 remdesivirBiotech News Health Care Trading Ideas General Best of Benzinga