It was a good day on Wall Street yesterday, following a report from health-care media site Stat News that indicated promising results for a drug used to treat COVID-19. Buoyed by the news, the S&P 500 rose by 1.6 percent on the day.
University of Chicago Medicine researchers saw “rapid recoveries” in 125 patients suffering from COVID-19 who were taking Gilead Sciences’s experimental drug remdesivir as part of a clinical trial. As a result, Gilead's share price jumped nearly 8 percent on the day.
But be warned that we are still a long way from a treatment. A statement from the University of Chicago Medicine said that “drawing any conclusions at this point is premature and scientifically unsound.”
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