Stocks Boosted On Positive Trial Updates For Possible Covid-19 Treatment

US stocks indices have received a nice boost in the session on Wednesday, as further optimism is sparked regarding the testing of Gilead Sciences' Remdesivir Covid-19 treatment.

The company in a press release Gilead Sciences said preliminary results of a coronavirus drug trial have shown at least 50% of patients that have been treated with a 5-day dosage of antiviral drug Remdesivir, improved and more than half were discharged from the hospital within two weeks.

In terms of the clinical trial, it involves patients with severe cases of Covid-19. The severe study is “single-arm,” meaning it did not evaluate the drug against a control group of patients who didn’t receive the drug.

Gilead added that a government-run clinical trial of evaluating the treatment met the study's primary endpoint. That specific study is being conducted by the National Institute of Allergy and Infectious Diseases, which is expected to provide additional information about that trial soon.

In other news, Japanese Prime Minister Shinzo Abe says Japan is on the verge of initiating a fast-track approval process for Remdesivir, the experimental Gilead Sciences antiviral, to treat patients infected by the novel coronavirus according to local press.

What does this mean for the markets?

It has further promoted this week’s theme which has been risk appetite, boosting the riskier assets; stocks and in FX, AUD, NZD, CAD, specifically remain very strong, with USD underperformance given the current market tone.



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