SAN FRANCISCO (KRON) – Gilead Sciences on Wednesday announced that preliminary results of its coronavirus drug trial show Remdesivir has met its primary endpoint.

The government-run study of the experimental drug remdesivir shows the medicine is effective against COVID-19, the biopharmaceutical company said.

In a statement, Gilead said in part, “We understand that the trial has met its primary endpoint,” adding that the National Institute of Allergy and Infectious Diseases, which is conducting the study, will provide data at an upcoming briefing.

Shares of Gilead were up more than 3% in midmorning trading.

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