It’s an extremely difficult drug to manufacture and they may not be able to ramp it up in the next few months. Which is to say it’s good news for the second wave that’s coming but we can’t open up yet.
If it works well, and the only problem is manufacturing, there's an entire planet full of emergency-funded researchers and manufacturing engineers who would be very interested in solving the fast manufacturing problem.
It sounds a lot easier than the problem of finding good drugs in the first place, to be honest.
It's now up 13%, and was up by 16% when NBC reported.
The rally from bottom isn't though. Infinite currency makes for risk on.
If you were doubting that the +3% market movement was primarily driven by this news, take a look at the markets at 12:40PM today when negative news of clinical trials for the drug were released. Again, direct minute by minute correlation btw SPY dropping and GILD news.
Gilead itself is up 16%, which would be a 52 week high.