Prognosis

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

Dr. Joseph Weinstein, Steward Health Care System chief medical officer, says it's too early to tell if the Covid-19 drug Remdesivir does not work.Source: Bloomberg)

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By Robert Langreth and Michelle Fay Cortez

April 23, 2020 at 5:15 PM UTC

Updated on

April 23, 2020 at 8:36 PM UTC

This article is for subscribers only.

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%.