Gilead Sciences, Inc. (NASDAQ: GILD) is donating 1.5 million doses of remdesivir, its investigational drug for COVID-19, for compassionate use, expanded access and clinical trials, Chairman and CEO Daniel O'Day said Saturday. The doses are intended for patients with severe symptoms who will receive them intravenously on a daily basis in a hospital setting, the CEO said in a letter posted on Gilead's website. The 1.5 million doses could amount to more than 140,000 treatment courses in COVID-19 patients, depending on the duration of treatment, he said. The antiviral drug was first developed by Gilead as a potential treatment for the Ebola and Marburg viruses. Multiple clinical trials for the drug are underway in COVID-19 with thousands of patients worldwide participating, the company's CEO said Saturday. The drug is investigational and unapproved, and its safety and efficacy are not yet known, according to Gilead."Having a potential treatment in our hands comes...
Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday's trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut production. Late last week, prices had surged, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that OPEC and its allies would strike a global deal to cut crude supply worldwide. The COVID-19 pandemic caused by the novel coronavirus has cut demand and a month-long price war between Saudi Arabia and Russia has left the market awash in crude....
Global benchmark oil prices are expected to open lower on Monday as a dispute between top crude exporters Russia and Saudi Arabia raises concerns of another collapse in talks to curb production at a meeting this week. The move lower may be muted as the market reacts to U.S. President Donald Trump's statement on Saturday that he will put tariffs on Saudi and Russian production, potentially accelerating a meeting. OPEC and its allies postponed an emergency meeting scheduled for Monday, led by Saudi Arabia, where the oil cuts could be agreed upon....
Tesla Inc (TSLA) said it delivered the highest number of vehicles in any first quarter ever despite the outbreak of the coronavirus pandemic.The electric carmaker delivered 88,400 vehicles in the first quarter, slightly below Wall Street estimates of 89,000 vehicles. Tesla produced almost 103,000 vehicles during the period. The company started to temporarily suspend production at its San Francisco Bay Area car factory on March 24.“This is our best ever first quarter performance,” Tesla said in a statement.Tesla’s first-quarter vehicle report sent the company’s shares up 5.6% in New York trading on Friday.Five-star analyst Philippe Houchois at Jeffries, who reiterated his Hold rating, said the report "should be seen as positive given unusual seasonality”. Like Jeffries’ Houchois, the consensus of Wall Street analysts tells investors to Hold the stock based on 14 Holds, 9 Sells and 4 Buys. The $512.23 average price target forecasts shares will rise 6.7% in the next...
(Bloomberg) -- In a possible respite after days of sobering developments, the reported daily death toll in some of the world’s coronavirus epicenters was lower on Sunday.In New York State, fatalities fell for the first time. Italy had the fewest deaths in more than two weeks. France reported the lowest number in five days and Spain’s daily tally fell for a third straight day.Key Developments:Global cases pass 1.2 million; deaths top 68,000: Johns HopkinsU.S. cases exceed 321,000, a quarter of the world totalU.K. to tighten lockdown if neededBiden suggests virtual conventionIndia bans exports of “game changer” virus drugReligious gatherings move onlineThe fast spread pits treating patients against finding a cureFrench Deaths Cut by Half in a Day (2:10 p.m. NY)France reported the lowest daily coronavirus deaths in five days in a possible sign that three weeks of confinement are starting to help contain the outbreak. The country had 518 fatalities on...
