Shares of Gilead Sciences Inc. (GILD) fell 1.4% in trading on Wednesday after the drugmaker said it started a Phase 1a clinical study testing an inhaled version of its experimental COVID-19 drug remdesivir. The Food and Drug Administration in May granted an emergency use authorization to an intravenous form of remdesivir as a treatment for some severely ill COVID-19 patients. Gilead first announced plans in June ( ) for the new randomized, placebo-controlled clinical trial, which has enrolled 60 healthy adults. "Delivering remdesivir directly to the primary site of infection with a nebulized, inhaled solution may enable more targeted and accessible administration in non-hospitalized patients and potentially lower systemic exposure to the drug," Dr. Merdad Parsey, Gilead's chief medical officer, said in a statement. Gilead's stock has gained 15.8% year-to-date, while the S&P 500 is down 2.6%.
-Jaimy Lee; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 08, 2020 14:49 ET (18:49 GMT)
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