Gilead Jumps to Two-Year High on Covid-19 Drug Hopes
- Piper Sandler analyst expects fast approval for remdesivir
- Late-stage results expected mid-April, according to analyst
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Gilead Sciences Inc. stock jumped as much as 7% on Thursday, reaching a two-year high, as a Piper Sandler analyst doubled down on his call on the approval prospects for the biotech company’s experimental therapy for the pandemic now sweeping the U.S.
Analyst Tyler Van Buren renewed his call for positive results from the biotechnology company’s experimental therapy for the novel coronavirus. It was his second favorable call on the medicine in less than 24 hours. “It should get approved ASAP,” he told clients in a Thursday note.