On Friday morning, the report produced by Gilead on a probable treatment of Coronavirus created a huge impact on the stock market. The Dow Jones futures jumped 789 points, while S&P 500 and Nasdaq 100 futures increased by 2.9% and 2% respectively.
STAT news supported the effectiveness of medicine by discussing the speedy recovery of patients. The value of the Gilead shares increased by 13% after the reports went live.
According to the reports, Remdesivir was tested on 125 patients at the Chicago Hospital. The majority of the positive cases showed signs of fast recovery in respiratory symptoms and fever. Patients were even discharged within a week.
People have been waiting eagerly to find the results of the drug trials run by Gilead. The positive results will guarantee the approval of the medicine. Lab tests proved that Remdesivir can be used as a medicine if used carefully. Out of the 125 tested cases, 113 were severe. However, only two deaths were registered.
Trump indicated that Remdevisir can be used to treat the virus, along with hydroxychloroquine.
The stock markets have shown considerable growth, but over 22 million Americans have lodged a complaint about unemployment.