Gilead Tumbles After Latest Data Leak on Virus
Drug Trials Drugmaker and doctor involved dispute that trial was a failure
S&P 500 briefly gives up gains after report on China trial
Gilead Sciences Inc. shares were whipsawed for the second time in a week after a summary of a Chinese trial of its Covid-19 drug appeared to show that it was a failure.
The synopsis, which the company and a scientist working on the trial
said didn’t fairly represent the actual results, saw Gilead’s shares closed down 4.3% to $77.78 on Thursday in New York.
The broader market fell as well, with the S&P 500 ending down 0.05%.
The summary was quickly removed,
but details of the post were reported by the Financial Times and posted by the publication Stat.
They showed that the drug wasn’t associated with patients getting better more quickly;
13.9% of patients getting the drug died,
versus 12.8% getting standard care.