by Ian Harvey
February 27, 2020
Gilead Sciences jumped 6.56% yesterday after initiating late-stage testing of its promising coronavirus drug remdesivir. By the close of after-hours trading GILD stock was up a total of 11.46% for the day, closing at $78.13.
Using a CALL OPTION “Armchair Trader Members” are already up 120% profit, and more is expected as GILD stock continues to climb.
And, for those traders on the sidelines, there is still time to take advantage of this growth!
See what we are trading!
Gilead announced Wednesday evening that it's initiating two late-stage clinical studies to evaluate its experimental antiviral drug remdesivir in treating adults diagnosed with coronavirus disease COVID-19.
The company first announced that it was considering remdesivir for treating the coronavirus disease in late January. Remdesivir was initially developed as a treatment for Ebola virus infection, but has shown promise in targeting coronaviruses.
A sense of urgency has been placed on the drug industry to identify and develop vaccines and treatments to halt the coronavirus outbreak that has killed more than 2,700 people and sickened more than 81,000. Since it originated in China, the virus has spread to at least 40 other countries, encompassing six continents.
Shortly after this we decided to execute a trade to the positive which has begun to pay-off big-time for “Armchair Members” of Stock Options Made Easy – up 120% and it looks like a lot more to come.
The Trade at the Time.....we wrote.....
“Research-based biopharmaceutical company, Gilead Sciences, Inc. (NASDAQ:GILD) the second biggest biotech company behind Amgen (AMGN) in terms of market valuation, could hold the key to containing and treating the coronavirus. Chinese officials think the company just might.
Chinese researchers reportedly have applied for a local patent on an experimental Gilead drug that they believe could help fight the novel coronavirus outbreak - and also significantly bolster Gilead's bottom-line going forward.
The Wuhan Institute of Virology – based in the central Chinese city at the epicenter of the epidemic – has applied for a patent in China for the use of Remdesivir, an antiviral therapy used to treat infectious diseases including Ebola and SARS.
The application was made on Jan. 21 along with a military academy, according to a Feb. 4 statement on the institute’s website.
Earlier this month, GILD stock rose 5% in a single day after the biotech company said it would send an experimental Ebola virus treatment to China to test it as a coronavirus treatment. The drug previously showed promise in a 35-year-old U.S. patient with a new form of coronavirus.”
Maybe This Is Paying Off.....
Gilead Sciences already has several early stage clinical studies of remdesivir underway for treating COVID-19. The company is evaluating the antiviral drug in two studies in China, and recently began a study in the U.S. that's being led by the National Institute of Allergy and Infectious Diseases (NIAID).
The initiation of these studies follows the U.S. Food and Drug Administration's rapid review and acceptance of Gilead's investigational new drug filing for remdesivir.
"Gilead's primary focus is on rapidly determining the safety and efficacy of remdesivir as a potential treatment for COVID-19, and this complementary array of studies helps to give us a more expansive breadth of data globally on the drug's profile in a short amount of time," Merdad Parsey, Gilead's chief medical officer, said in a statement.
Gilead Sciences was the second-best performing stock in the S&P 500 and was just one of two stocks in the Nasdaq-100 that was trading higher on Monday, when the Dow plunged more than 1,000 points due to fears about the disease spreading to Italy, South Korea and Iran.
"There is only one drug right now that we think may have real efficacy and that's remdesivir," Bruce Aylward, an assistant director-general of the World Health Organization (WHO), said at a press conference in Beijing.
The company also said in a statement a few weeks ago that remdesivir has demonstrated some success in treating MERS and SARS, two viruses similar to the Wuhan coronavirus, in animals.
Yesterday was another big day for Gilead Sciences with the stock price hitting $74.70, up $4.60 or 6.56%. And in pre-market trading, at 4.20AM, the stock had already climbed another 8.38% at $80.96, and is still on an upward trajectory.
Gilead Sciences is not the only drug firm hoping to find a successful treatment for the coronavirus. Pharmaceutical giants Johnson & Johnson (JNJ) and GlaxoSmithKline (GSK) are also working on vaccines.
Biotech company AbbVie (ABBV) has said that it has seen promising results for treatment using a mixture of two of its HIV medications and Tamiflu, which is made by Swiss pharma giant Roche (RHHBF) and Japan's Chugai Pharmaceutical Co (CHGCY).
Smaller drug companies Moderna (MRNA), Inovio Pharmaceuticals (INO) and Novavax (NVAX) are also working on treatments.
"There is only one drug right now that we think may have real efficacy and that's remdesivir," said Bruce Aylward, an assistant director-general of the World Health Organization.
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