05.05.2020 GILD Daily Analysis

05.05.2020 GILD Daily Analysis

Remdesivir the antiviral drug against the pathogen COVID-19, was approved Friday by the FDA (Food and Drug Administration) for emergency use to be available to treat patients infected with the virus. Federal trials have shown to speed up the recovery process of patients with the coronavirus from 100,000 to 200,000 people, said Dan O'day, the CEO of the pharmaceutical company Gilead Sciences which is making the drug. The announcement was made Sunday, "We intend to get that to patients in the early part of next week", O'day said on CBS "Face of the Nation". The company has actually donated it's entire available supply of Redesivir roughly around 1.5 million doses to the government. The company is actually expecting to manufacture over 1 million doses by the end of the year which could help plunge the stock price even more. Gilead Sciences Inc (GILD) is plunging by $0.30, or by +0.38%, at $80.25.