Gilead soars as remdesivir receives FDA approval

Friday, 23. October 2020 14:17

Gilead Sciences stock went up on Friday in the premarket session after it was announced that its antiviral drug Veklury (remdesivir) received approval from the United States Food and Drug Administration (FDA) for the treatment of patients infected with the coronavirus.

The approval was granted following three phases of testing that showed "treatment with Veklury resulted in clinically meaningful improvements across multiple outcome assessments compared with placebo in hospitalized patients with COVID-19," the company said.

At 08:14 am ET the stock price rose by 4.33% selling for $63.30.

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Breaking the News / TF