Gilead Scientific’s shares rose more than 3 percent after the U.S. Food and Drug Administration (FDA) granted Redsey Way emergency use authorization on Friday. The U.S. Food and Drug Administration (FDA) on Friday issued an emergency use authorization for the antiviral drug Redcivir, which allows it to be used to treat suspected and confirmed, severely hospitalized children and new adults.
Although there is no data on the safety and efficacy of Redciewe in treating new coronal inpatients, clinical trials of the trial drug have shown that it can shorten the recovery time of some patients.
U.S. President Donald Trump also said earlier that Gilead had obtained an emergency license for the use of its anti-coronavirus drug, Redcievir.
Trump said he was working with the Federal Emergency Management Agency to ensure patients received the drug.
U.S. Food and Drug Administration (FDA) Director Hahn said Gilead Science’s Redsiwe drug is licensed to treat patients with new coronary pneumonia in hospitals, and the latest authorization represents significant progress in clinical trials.
Gilead Sciences closed down 4.82 percent at $79.95 on Friday.