Coronavirus: Gilead shares tumble after report that Chinese remdesivir trial flopped
- Test results showing drug did not make significant difference in likelihood of death or time patients took to improve were posted then quickly removed by WHO
- Gilead and scientist involved in trial dispute how results were interpreted
Gilead Sciences shares plunged after reports that its experimental drug being tested in Covid-19 patients failed to show a positive result in a Chinese trial.
The drug company and a scientist involved in the trial disputed that characterisation, however.
According to reports from the Financial Times and Stat, the drug, called remdesivir, did not make a significant difference in the amount of time it took patients to improve, or their likelihood of death. A summary of the trial results was posted and quickly removed by the World Health Organisation, according to the publications.
Gilead shares fell as low as US$75.37 before ending the day 4.34 per cent down at US$77.78.
The summary posted by Stat shows results from 237 patients in the trial. Use of the drug was not associated with patients getting better, faster. And 13.9 per cent of patients getting the drug died, versus 12.8 per cent getting standard care, according to the summary.