As most of the U.S. stock market flounders amid a massive global flight from risk assets, one stock briefly led the S&P 500 with an astonishing 3.4% rally. Gilead Sciences (NASDAQ: GILD) defied the coronavirus slump after the World Health Organization praised its remdesivir drug as a leading candidate to help fight the global health crisis.
With all three of the major U.S. stock market indices down more than 3%, Monday was a terrible day for Wall Street bulls.
For those investors brave enough to dive into the biotech wars to find a coronavirus treatment, there was some gold to be found. Gilead Sciences has emerged as the front runner in providing a drug to combat the disease, according to the WHOs Bruce Aylward.
Hopes were already high for remdesivir after Gilead claimed that there were optimistic signs based on its animal tests.
Remdesivir has demonstrated in vitro and in vivo activity in animal models against the viral pathogens MERS and SARS, which are also coronaviruses and are structurally similar to COVID-19.
The limited preclinical data on remdesivir in MERS and SARS indicate that remdesivir may have potential activity against COVID-19.
Given that some of these results were on monkeys, which have a close correlation with human genetics, investors are banking on the possibility that this drug, which has been used to help treat HIV and Cholera, gets fast-tracked to human trials.
The coronavirus has now infected around 80,000 people globally, but its the diseases spread outside of China that has spooked the S&P 500 so much.
Outside of stocks, the fear in the marketplace looks very real as the price of gold rallies aggressively alongside the safe-haven Japanese yen. Demonstrating concerns about growth, crude oil took a monster 5% hit as global trade continued to struggle.
South Korea is dealing with a parabolic spike in infections, while northern Italy is on lockdown after a seventh death. The quarantine threatens the most important financial hub of one of the eurozones wealthiest nations.
Chinese leader Xi Jinping has acknowledged the desperate need to contain the virus.
Its clear that the upside for Gilead Sciences stock is enormous if they can prove that remdesivir works before another drugmaker develops an effective treatment.
But thats still a big if.
Until then, the move higher in GILD only marks speculative optimism, with the potential for a far more significant spike.
Disclaimer: This article represents the authors opinion and should not be considered investment or trading advice from CCN.com.
This article was edited by Josiah Wilmoth.
- human genetics | Description, Chromosomes, & Inheritance ... - May 19th, 2020
- Human genetics - Wikipedia - May 19th, 2020
- COVID-19 Pandemic: Global Risks of More Complex Character and the Visions of the Future World - Valdai Discussion Club - May 19th, 2020
- Rothamsted turn to harvesting coronavirus data - Lab News - May 19th, 2020
- Complement genes add to sex-based vulnerability in lupus and schizophrenia - UAB News - May 19th, 2020
- DU to set up School of Public Health - The Indian Express - May 19th, 2020
- Covid-19 research: 45 Bengaluru startups working on medicine, testing methods and vaccine - Economic Times - May 19th, 2020
- Immortalized Cell Line Market Development, Trends, Key Driven Factors, Segmentation And Forecast to 2020-2026 - Cole of Duty - May 19th, 2020
- Worlds Shortest Population Reveal the Largest Genetic Contributor to Height - Technology Networks - May 15th, 2020
- Group of Genes Have Altered Expression in Autism - Technology Networks - May 15th, 2020
- Why can two young and healthy individuals be affected so differently by coronavirus? - Health24 - May 15th, 2020
- Amgen To Present At The Bank Of America Merrill Lynch Virtual Global Healthcare Conference - BioSpace - May 15th, 2020
- Viewpoint: Darwin's 'Descent of Man' is both deeply disturbing and more relevant than ever - Genetic Literacy Project - May 15th, 2020
- Study Finds Low Proportion of Individuals With Autism Receive Recommended Genetic Tests - Technology Networks - May 15th, 2020
- Cats can catch Covid-19 from other cats. The question is: Can we? - STAT - May 15th, 2020
- Deficient Expression of DGCR8 in Human Testis is Related to Spermatoge | IJGM - Dove Medical Press - May 15th, 2020
- Prevail Therapeutics Reports First Quarter 2020 Financial Results and Business Highlights - GlobeNewswire - May 15th, 2020
- Fulcrum Therapeutics, Inc. (FULC) Q1 2020 Earnings Call Transcript - The Motley Fool - May 15th, 2020
- Scientists concerned that coronavirus is adapting to humans - The Guardian - May 11th, 2020
- Coronavirus quickly spread around the world starting late last year, new genetic analysis shows - CNN - May 11th, 2020
- Your genes could determine whether the coronavirus puts you in the hospital and we're starting to unravel which ones matter - The Conversation US - May 11th, 2020
- Yes, COVID-19 is mutating, here's what you need to know - ABC News - May 11th, 2020
- Conservatives Are Not the Only Ones Who Ignore Facts and the Science - Merion West - May 11th, 2020
- Coronavirus in Scotland: Charity warns Covid will cause a spike in ME cases - as it calls for 'harmful' exercise treatment to be banned -... - May 11th, 2020
- Dr. Misaki Wayengera: The Man Behind Uganda's Covid 19 Test Kits - New Vision - May 11th, 2020
- Its In The Genes? Scientists Think Coronavirus Exploits Silent Hidden Mutations In The Body - International Business Times - May 11th, 2020
- From blood clots to 'Covid toe': Experts confounded by series of medical mysteries - The Straits Times - May 11th, 2020
- MET 2020 Slot booking to commence on July 15, Examination dates available at manipal.edu - Jagran Josh - May 11th, 2020
- Vitagene Launches The First FDA Authorized Saliva based Zero Contact COVID-19 At Home Test - Business Wire - May 10th, 2020
- Genetics in focus after coronavirus deaths of siblings and twins - The Guardian - May 10th, 2020
- 'An anvil on my chest': What it's like to have COVID-19 - LancasterOnline - May 10th, 2020
- Coronavirus may have spread to humans as early as October 2019 - study - The Jerusalem Post - May 10th, 2020
- Team reveals genomic history of ancient civilizations in the Andes - UC Santa Cruz - May 10th, 2020
- Regeneron Reports First Quarter 2020 Financial and Operating Results - BioSpace - May 10th, 2020
- Scientists at Ben-Gurion University of the Negev Develop Anti-Coronavirus Surface Coating Based on Nanomate... - The Auto Channel - May 10th, 2020
- COVID-19 and food security - Fitzwilliam College, University of Cambridge - May 10th, 2020
- Val Sheffield elected to the American Academy of Arts and Sciences - Iowa Now - May 1st, 2020
- DNA gives clues into risk of developing Alzheimer's disease and other dementias - Alabama NewsCenter - May 1st, 2020
- Rare Gene Discovered That Nearly Doubles Risk of Developing a Neurodegenerative Disease - Clinical OMICs News - May 1st, 2020
- Progress in understanding the genetic basis of mental health - SFARI News - May 1st, 2020
- Coronavirus was widespread in UK at very start of pandemic, says genetics expert - Sky News - May 1st, 2020
- This is how you do the genetics heritage filter on Instagram that everyone's doing - The Tab - May 1st, 2020
- COVID-19 vaccine in Ireland could take a year and a half - IrishCentral - May 1st, 2020
- MRC scientists elected Fellows of the Royal Society - Cambridge Network - May 1st, 2020
- Parkinson's discovery implicates "second brain" in the gut - New Atlas - May 1st, 2020
- Humans: are we the most effective vector of disease? - BugBitten - BMC Blogs Network - May 1st, 2020
- Could genetics explain why some COVID-19 patients fare worse than others? - Live Science - April 27th, 2020
- Human Genetics Market Overview, Top Companies, Region, Application and Global Forecast by 2026 - Latest Herald - April 27th, 2020
- American Academy of Arts & Sciences Elects UVM's Wallace to Its Membership - UVM News - April 27th, 2020
- The PBS documentary The Gene showcases genetics promise and pitfalls - Science News - April 9th, 2020
- Few clinical trials are done in Africa: COVID-19 shows why this urgently needs to change - The Conversation Africa - April 9th, 2020
- UCLA web app will enlist publics help in slowing the spread of COVID-19 - Newswise - April 9th, 2020
- Why does the new coronavirus kill some people and barely affect others? - Wilkes-Barre Citizens Voice - April 9th, 2020
- COVID-19: Few Clinical Trials are Done in Africa. This Needs to Change ASAP. - The Wire - April 9th, 2020
- 'Behavioral suppression' needed to decrease coronavirus infections in Japan: experts - The Mainichi - April 9th, 2020
- The secret call of the wild: how animals teach each other to survive - The Guardian - April 9th, 2020
- Yann Joly on the fight against genetic discrimination - McGill Reporter - April 2nd, 2020
- Science to the rescue? How modern genetics could help save the world from coronavirus - Genetic Literacy Project - April 2nd, 2020
- Oldest human genetic data gleaned from 1.8-million-year-old tooth Haaretz - News Collective - April 2nd, 2020
- Science to the rescue? How modern genetics could help save the world from coronavirus - Alliance for Science - Alliance for Science - April 2nd, 2020
- BHU department claims to have discovered new technology to test COVID-19 - Jagran Josh - April 2nd, 2020
- Stealth BioTherapeutics Reports Fiscal Year 2019 Financial Results And Recent Business Highlights - BioSpace - April 2nd, 2020
- Researchers at U of T developing antibodies to 'neutralize' novel coronavirus before it invades cells - News@UofT - April 2nd, 2020
- What is coronavirus and Covid-19? An explainer - KTVZ - April 2nd, 2020
- Plasmid Market was Valued at US$ 89.52 million in 2018 and is Estimated to Reach US$ 447.68 Million by 2027, growing at a CAGR of 19.5% over the... - April 2nd, 2020
- The genetic architecture of the human cerebral cortex - Science Magazine - March 26th, 2020
- The Coronavirus Pandemic Shows Us The Importance Of Combatting Climate Change - Forbes - March 26th, 2020
- Kallyope Inc. Announces $112M Series C Financing to Support First Clinical Trials and Advance Portfolio of Programs Targeting the Gut-Brain Axis - P&T... - March 26th, 2020
- IN CONSERVATION: DR. JEFF STROVEL, CEO of VERALOX THERAPEUTICS - BioBuzz - March 26th, 2020
- How healthtech startup Bione aims to use genetic testing in the fight against coronavirus - YourStory - March 26th, 2020
- Coronavirus: Massive gap in US response revealed after scientists learn colleague tested positive through twee - MEAWW - March 26th, 2020
- Avera announces ability to test for COVID-19 in South Dakota - The Dickinson Press - March 24th, 2020
- University of Utah experts advise caution over drugs hyped as possible coronavirus treatments - Salt Lake Tribune - March 24th, 2020
- Invitae and Muscular Dystrophy Association (MDA) Expand Access to No-Charge Genetic Testing in the US and Canada - PRNewswire - March 24th, 2020
- Studying the African genome could yield new medical treatments for everyone - Genetic Literacy Project - March 24th, 2020
- Human Genetics Market Higher Growth Rate / CAGR over the Forecast Period to 2026 by Key Players like QIAGEN, Agilent Technologies, Illumina - New Day... - March 16th, 2020
- Coronavirus is hard on older people and scientists aren't sure why - NBCNews.com - March 16th, 2020
- Researchers study irregular horse heartbeats, hoping to find a cure - Minnesota Daily - March 16th, 2020
- Dr. John T. Macdonald Foundation seeking to fund community-based organizations with major grant dollars - Miami's Community Newspapers - March 16th, 2020
- A book that could save lives: Adam Rutherford's How to Argue with a Racist reviewed - Spectator.co.uk - March 16th, 2020