Why Gilead Sciences Shares Rose 18.4% in the First Half

Shares of Gilead Sciences (NASDAQ: GILD) rose 18.4% the first half, according to data provided by S&P Global Market Intelligence, as hospitals began using its drug remdesivir to treat COVID-19 patients. Early into the health crisis, Gilead began testing remdesivir as a possible treatment for the illness caused by the novel coronavirus. More recently, remdesivir entered clinical trials for COVID-19, and as promising data emerged, the U.S. Food and Drug Administration granted the drug Emergency Use Authorization.