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Gilead stock surges after report says coronavirus drug trial shows encouraging early results

A Gilead Sciences office is shown in Foster City, California, U.S. May 1, 2018.

Stephen Lam | Reuters

Gilead Sciences shares surged  by more than 10% in after-hours trading Thursday after an industry publication said Covid-19 patients being treated with the company’s antiviral drug Remdesivir appear to have “rapid recoveries in fever and respiratory symptoms.” 

STAT News said a doctor running a Chicago-based hospital conducting a closely watched trial on the drug found that most of its patients had been discharged in less than a week. 

There are no proven therapies to treat Covid-19, which has infected more than 2 million worldwide as of Thursday night, according to data compiled by Johns Hopkins University.

Some health authorities in the U.S. and China have been using  Remdesivir, which was tested as a possible treatment for the Ebola outbreak, in hopes that the drug can reduce the duration of the virus in patients.

This is a developing story. Please check back for updates.

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