Gilead Sciences Inc (NASDAQ:GILD) said its investigational drug remdesivir helps coronavirus patients with moderate pneumonia to recover faster compared to the standard of care.
A late-stage trial evaluated patients in 5-day and 10-day courses, but the latter did not show statistical significance.
Remdesivir is currently approved as emergency treatment for coronavirus in several countries after three trials confirmed it allows for a faster recovery.
It is also being evaluated in combination with Roche’s arthritis treatment Actemra for severe coronavirus cases.
Neil Wilson at Markets.com said the news was not particularly well received by the market as “it’s a long way from a slam dunk Covid-beater”.
Shares fell by over 3% after the announcement, trimming losses to 1% dip to US$74.50 in premarket trading.