Health and Healthcare

Gilead Is the First COVID-19 Stock to Win FDA Approval

Wikimedia Commons

Gilead Sciences Inc. (NASDAQ: GILD) is the first company to cross the finish line for regulatory approval in the fight against the coronavirus. The firm’s antiviral drug Veklury (remdesivir) won approval from the U.S. Food and Drug Administration (FDA) on Thursday. It is the first treatment for COVID-19 to do so.

The approval of Veklury was supported by the FDA’s analysis of data from three randomized, controlled clinical trials that included patients hospitalized with mild-to-severe COVID-19.

Note that this approval does not include the entire population that had been authorized to use Veklury under an Emergency Use Authorization (EUA) originally issued on May 1.

In order to ensure continued access to the pediatric population previously covered under the EUA, the FDA revised the EUA for Veklury to authorize the drug’s use for the treatment of suspected or laboratory-confirmed COVID-19 in hospitalized pediatric patients within a certain weight limit.

Possible side effects include increased levels of liver enzymes, which may be a sign of liver injury and allergic reactions, which may include changes in blood pressure and heart rate, low blood oxygen level, fever, shortness of breath, wheezing, swelling, rash, nausea, sweating or shivering.

The FDA previously granted remdesivir a Fast Track designation, as well as a Priority Review designation.

The clinical trials assessing the safety and efficacy of Veklury in pediatric patient populations are ongoing.

Despite this approval, Gilead Sciences stock was still underperforming the broad markets, down about 7% year to date. Over the past 52 weeks, the share price is down closer to 9%.

Gilead Sciences stock traded up nearly 4% Friday morning, at $62.93 in a 52-week range of $59.65 to $85.97. The consensus price target is $78.42.

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.