The drug was developed by the U.S. biotechnology company Gilead Sciences to fight Ebola, although it was not effective in that disease.
While the results are still preliminary, patients treated with this drug showed a rapid improvement in fever and respiratory symptoms.
Remdesivir was applied to a small group of severely ill patients at a hospital in Chicago. Almost all of them were discharged within a week.
BREAKING: Gilead shares surge after-hours as Stat News reports that the company's Remdesivir trial for coronavirus patients is seeing rapid recoveries according to early data. pic.twitter.com/8ewBsMmnjh
After the publication of the treatment preliminary results in the STATS portal, the shares of Gilead Sciences have skyrocketed.
"Before any conclusions can be drawn about Remdesivir tests, data must be further evaluated," Gilead Sciences said and added that the results of the drug application will be available at the end of April.
The University of Chicago administration also agreed that "partial trial data should not be used to draw conclusions."