Is Gilead Sciences the Best Buy in the Coronavirus Sell-Off?
Fears over the SARS-CoV-2 virus, and a potential COVID-19 pandemic, are hurting the stock market. On Feb. 27, the S&P 500 fell by about 138 points, representing a 4.4% decline.
The health-related risks posed by COVID-19 are a more significant concern. Fortunately, several pharmaceutical and biotech companies are racing to develop vaccines and treatments for the disease. One of the companies that has emerged as a leader of this endeavor is none other than Gilead Sciences (NASDAQ: GILD). It is worth wondering whether the company's shares are worth buying right now.
Gilead Sciences is currently looking to develop a treatment for COVID-19, namely a drug called remdesivir, which was previously investigated as a treatment for Ebola but with little success. Gilead Sciences hopes that remdesivir will be successful as a treatment for COVID-19, and this isn't merely wishful thinking. According to World Health Organization (WHO) officials, remdesivir may not only be able to treat COVID-19 successfully, but it shows the most promise out of all the potential treatments.
Source Fool.com
