The race for a COVID-19 vaccine has put many previously unknown companies into the spotlight. This international effort has already spawned a variety of treatments, some have even been endorsed by United States President Donald Trump. However, most experts maintain that a true vaccine is 12 to 18 months away.
Lately, the experimental drug Remdesivir has attracted considerable attention. Remdesivir is an antiviral, intravenous medicine made by Gilead Sciences (NASDAQ:GILD). It has existed for years as an experimental compound but has not yet been approved by the Food and Drug Administration (FDA) – or any other national drug agency around the world.
Remdesivir attracted attention during the Ebola outbreak in 2014 as a potential treatment. However, it was later sidelined in favour of other treatments and vaccines. Scientists have performed successful tests with Remdesivir pitted against two other viruses in the coronavirus family – SARS and MERS. Chemical trials with COVID-19 began in China in early February.
Over the weekend, Gilead announced that it has temporarily stopped granting patients access to Remdesivir due to "overwhelming demand".
It is focused on previously approved requests but will make exceptions for pregnant women and children under the age of 18.
Shares of Gilead have climbed 10% month-over-month as of close on March 20. There is intense competition in this space right now, and any breakthrough will take time. However, Gilead is a stock to monitor especially as cases ramp up significantly in North America.
