Whether or Not Gilead Sciences Produces a Successful COVID-19 Therapeutic, It's a Bargain
With the pharmaceutical sector abuzz amid the scramble for a marketable drug to treat COVID-19, Gilead Sciences' (NASDAQ: GILD) stock tumbled on Tuesday and Wednesday amid news of two of the company's COVID-19 drug clinical trials in China being canceled. But a positive update about its U.S. study helped the stock recover by the end of the week.
Nonetheless, Gilead's stable of existing antiviral therapeutics makes it a leading competitor in the race toward a drug for COVID-19. Thanks to prior efforts in drug development, the company has a plethora of therapeutics to test for efficacy against the coronavirus. But, more importantly, it's the company's history of effective antiviral drug development and weathering serious setbacks that makes its stock worth purchasing at its near-term values.
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Source Fool.com
