(RTTNews) - The Indonesia stock market has finished higher in back-to-back trading days, skyrocketing more than 600 points or 13 percent along the way. The Jakarta Composite Index now rests just beneath the 4,550-point plateau although investors are expected to cash in on Monday
How much damage has the coronavirus and the oil price collapse inflicted on global financial markets this year? Put simply, it has probably been the most destructive sell-off since the Great Depression.
Argentina's President Alberto Fernandez said on Sunday that the country would extend a mandatory nationwide quarantine period until the middle of April in a bid to slow the spread of the coronavirus that has killed over 30,000 people worldwide.
(RTTNews) - The Japanese stock market is losing more than 4 percent on Monday and the safe-haven yen strengthened following the sharp losses on Wall Street Friday amid lingering concerns about the economic impact of the coronavirus pandemic.
(RTTNews) - The South Korea stock market bounced higher again on Friday, one session after it had ended the two-day winning streak in which it had surged more than 220 points or 14 percent. The KOSPI now rests just above the 1,715-point plateau although it figures to head south
Gilead Sciences Inc. (GILD) said it is expecting to have initial remdesivir drug data in coming weeks. The experimental drug is currently being evaluated as a potential treatment for coronavirus patients.
“Multiple studies are ongoing, and we are on track to have initial data in the coming weeks,” said Gilead CEO and chairman Daniel O’Day. “If it is approved, we will work to ensure affordability and access so that remdesivir is available to patients with the greatest need.”
TipRanks analytics show out of 19 analysts, 10 are bullish with a Buy rating on Gilead stock, 8 are sidelined with a Hold rating and only 1 is bearish with a Sell rating. The 12-month consensus price target of $77.67 shows a modest potential upside of 6.6%. (See Gilead stock analysis on TipRanks)
O’Day said that Gilead was making remdesivir available outside of the clinical trials and investigating whether it is effective as a treatment for COVID-19. Distribution of the drug will be under a government-approved "expanded access" program. Remdesivir was originally developed for the Ebola virus by Gilead.
More recently, studies have shown it could potentially block the ability of SARS-CoV-2, the virus that causes COVID-19, to replicate. Until now, remdesivir has been given to more than 1,000 coronavirus patients, O'Day added.
“With expanded access, hospitals or physicians can apply for emergency use of remdesivir for multiple severely ill patients at a time,” Gilead’s O’Day said . “While it will take some time to build a network of active sites, this approach will ultimately accelerate emergency access for more people.”
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