Stocks are rallying today on positive news of an experimental drug for people ill with Covid-19.
This experimental drug is having a huge and positive impact.
This type of news is very encouraging. An effective drug therapy means that life could return to normal sooner rather than later.
America is ready to get back to business. And this huge growth sector could take off with America’s NEW economy.
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The drug is called remdesivir. And it’s from a biotechnology company named Gilead Sciences (NASDAQ: GILD).
A University of Chicago hospital began giving the experimental drug to 125 coronavirus patients. The patients had severe respiratory problems and a fever.
After six days of treatment, most of the patients have now been discharged. Only two patients have died.
The findings are similar to results announced by Gilead on April 10.
Remdesivir had previously been tested on Ebola patients with limited success.
In February, the World Health Organization announced that remdesivir showed promise against COVID-19.
In Chicago, there was no testing “control group” for the experimental drug. That means it’s difficult to know how these patients recovered compared with people who did not receive the drug.
Gilead is testing the drug with over 2,400 patients with severe symptoms. The trials are taking place at 152 hospitals.
The Gilead drug trial is expected to be completed by the end of April.
While this news is encouraging . . .
It’s important to take it with a grain of salt. That’s because this was not a controlled clinical trial. An actual clinical trial will give us a better read on the actual effectiveness of the experimental drug.
In the meantime, the stock market liked the news. The S&P 500 rose 1.5% in Friday’s trading. Meanwhile, shares of Gilead jumped over 7% in mid-day trading.
I’ve been saying for weeks that America needs much more testing and a drug therapy before life gets back to normal.
States can open up and lift restrictions. Yet we need more extensive testing to know WHO has coronavirus. Plus, we need a drug therapy in order to greatly reduce the fatality rate.
That’s what’s required to make people feel safe enough to go back to work, watch a movie in the theater or go to a Major League Baseball game.
There’s optimism in the air that this moment is coming sooner than later.
It never pays to bet against America. Our people and companies are determined to overcome this pandemic. And our economy will bounce back once it’s clear that it is safe.
America’s buildout of 5G will be a major initiative after this crisis. In fact, two wireless companies are already agreeing to spend an extra $4.5 billion upgrading their networks.
It’s creating a 5G Gold Rush. And America’s best tech stocks could surge 286% or more in 2020.
Yours in Health & Wealth,