Gilead's Remdesivir, Obeldesivir Selected for Ebola Clinical Trials in Congo Outbreak
GILD sits 20% above its 52-week low of $104.46 on light trading volume (0.4× avg).
Summary
Gilead Sciences' antivirals, remdesivir (Veklury) and obeldesivir, will enter clinical trials for the Ebola outbreak in the Democratic Republic of Congo. The US government is providing experimental drugs for compassionate use and to advance these trials. Remdesivir will be tested as a treatment, and obeldesivir as a preventive option, with trials expected to begin in the coming weeks. This inclusion could lead to new indications and regulatory approval for Gilead's drugs, addressing a critical public health need. Moderna's vaccine candidate is also mentioned but is further from trials in the region.
At the time of this announcement, GILD was trading at $125.55 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $155.9B. The 52-week trading range was $104.46 to $157.29. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.