Why Gilead Sciences Stock Is Up 13% Today
Biotech blue blood Gilead Sciences (NASDAQ: GILD) saw its shares jump by as much as 13% in pre-market action Monday morning. The stock perked up in response to a research agreement with Chinese authorities to begin a clinical trial of the antiviral medication remdesivir in patients infected with the novel coronavirus known as 2019-nCoV. The trial will reportedly take place in Wuhan, China, the epicenter of the current outbreak.
The coronavirus has already killed 361 individuals, based on the latest figures from the World Health Organization. And it has quickly spread from China to neighboring Asia-Pacific nations, North America, Europe, and the Middle East. If a viable treatment isn't identified soon, the death toll from this unique respiratory disease could skyrocket in the coming weeks.
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Source Fool.com