Clinical data on potential treatments for the new coronavirus could help sustain a market bounce that has buoyed stocks after last month's plunge, as investors look for signs that authorities may be able to stabilize the pandemic.08 Apr 2020 03:45AMNEW YORK: Clinical data on potential treatments for the new coronavirus could help sustain a market bounce that has buoyed stocks after last month's plunge, as investors look for signs that authorities may be able to stabilize the pandemic.
Early signs of a slowdown in hospitalizations and intensive care needs in coronavirus hotspots in the United States and abroad have fed a stock market turnaround sparked by massive support from the Federal Reserve and a more than US$2 trillion government bailout. As of Monday, the S&P 500 was off about 21per cent from its Feb. 19 all-time high but had rebounded 19per cent since March 23.
Drugmakers are studying ways to combat the respiratory illness, for which there are no approved treatments, as hospitals face strains from the flood of patients.More than 330 clinical studies related to COVID-19 are listed in clinicaltrials.gov, a database maintained by the U.S. National Institutes of Health, including many seeking to test drugs already approved for other conditions.
Even if remdesivir proves effective, the amount of the drug that would be available remains a concern. Gilead said last weekend https://www.gilead.com/stories/articles/an-update-on-covid-19-from-our-chairman-and-ceo its existing supply could equate to more than 140,000 courses of treatment.
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