Highly anticipated data for Gilead Sciences' remdesivir to treat COVID-19 are expected later this month, while analysts are also looking out for results in the near-term for products already approved for other conditions from companies such as Roche and Regeneron Pharmaceuticals, as reported in U.S. News & World Report.
"The more we see positive clinical data, the more investors will be comforted in the fact that this is a transitory issue like all epidemics are," commented Art Hogan, chief market strategist at National Securities, adding that "with each incremental piece of good news, that gets us closer to the end of the epidemic and the economic damage that falls in its wake."
More than 330 clinical studies related to COVID-19 are listed in a database maintained by the US National Institutes of Health, including many seeking to test drugs already approved for other conditions, the news source said.
Initial data for remdesivir are expected to come from studies of patients with relatively severe COVID-19, but because antivirals work best when patients are healthier, those results may show limited effectiveness, noted Credit Suisse analyst Evan Seigerman.
Data are also anticipated for Regeneron and Sanofi's Kevzara, perhaps by the end of the month, and for Roche's Actemra, two similar rheumatoid arthritis drugs being tested for COVID-19 illness.
"Just knowing that something works means investors can start thinking about the other side of this," remarked Keith Lerner, chief market strategist at Truist/SunTrust Advisory Services, "both from a human side and an economic and market perspective."
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