Benzinga | Sep 22, 2021 12:36PM EDT

Gilead's Remdesivir Cuts Risk of Hospitalization In High-Risk COVID-19 Patients

* Gilead Sciences Inc (NASDAQ:GILD) announced positive results from a Phase 3 trial of Veklury (remdesivir) non-hospitalized COVID-19 patients at high risk for disease progression.

* The trial assessed the efficacy and safety of a three-day course of Veklury for intravenous (IV) use for the treatment of COVID-19.

* This late-breaking data will be presented at the IDWeek 2021 virtual conference.

* In an analysis of 562 participants randomly assigned in a 1:1 ratio to receive Veklury or placebo, Veklury demonstrated a statistically significant 87% reduction in risk for the composite primary endpoint of COVID-19 related hospitalization compared with placebo.

* The results also showed an 81% reduction in risk for the composite secondary endpoint of medical visits due to COVID-19 or all-cause death by Day 28 for participants treated with Veklury, compared with placebo.

* In the study, no deaths were observed in either arm by Day 28.

* Related: Gilead Sciences Exceeds Expectations As Remdesivir Success Cushions Slump In HIV Franchise.

* Price Action: GILD shares are up 0.15% at $71.84 during the market session on the last check Wednesday.