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A scientist is at work in the VirPath university laboratory, classified as "P3" level of safety, on February 5, 2020 as they try to find an effective treatment against the new SARS-like coronavirus, which has already caused more than 560 deaths.Wall Street is scrambling to have a stake in the company that cures coronavirus —That's as the wider market marches towards its worst weekly performance since the financial crisis.
Vaxart, a little-known pharmaceutical company that also says it's searching for a possible vaccine, jumped as much as 106.1% Thursday. Gilead Pharmaceuticals already sells a drug, remdesivir, that a World Health Organization official said Monday may be able to treat some symptoms of coronavirus, though the drug was not originally made for that purpose. Investors bid that stock up as high as 5.6% Thursday. That's after it closed Wednesday up 7% against end of trading Friday, the last day of trading before the WHO comments.
Here are five public companies that Wall Street has bid up after they said they would pursue a vaccine, and how the shares performed Thursday.