Is It Too Late to Buy Gilead Sciences?
Gilead Sciences (NASDAQ: GILD) has been making waves of late. The company's antiviral drug, remdesivir, is currently perceived as the most promising potential treatment for COVID-19. As a result, Gilead's shares are up by 22% year to date, while the S&P 500 is down by 15% since the beginning of the year.
Gilead's good fortune will continue if remdesivir officially earns approval from health industry regulators, but if the potential COVID-19 drug fails to prove effective in clinical trials, the company's shares could plunge. With this backdrop in mind, is now a good time to buy shares of Gilead Sciences?
On Feb. 26, Gilead announced it would initiate two phase 3 clinical trials to investigate the efficacy of remdesivir as a potential treatment for COVID-19. The company said the studies would enroll about 1,000 patients in several Asian countries, including 600 patients with mild manifestations of COVID-19 and 400 with severe manifestations of the disease; patients would receive oral doses of remdesivir for five or 10 days.
Source Fool.com
