By Stephen Nakrosis

Gilead Sciences shares declined Thursday following media reports that draft documents pertaining to a test of remdesivir, the company's potential treatment for Covid-19, were accidentally released by the World Health Organization.

The Financial Times and other media on Thursday reported that the WHO documents indicated a Chinese trial of the drug indicated it didn't help patients' conditions.

The WHO said the draft is undergoing peer review and was published in error, the FT report said, adding Gilead said the WHO post included "inappropriate characterizations of the study." Gilead also said "Importantly, because this study was terminated early due to low enrollment, it was underpowered to enable statistically meaningful conclusions," according to the FT.

Last week, Gilead shares were pushed higher following reports that patients in Chicago were reacting positively to the drug.

At 1:10 p.m. EDT, Gilead shares were trading 4.8% lower at $77.39. The stock opened at $82.17 and traded as high as $84 a share earlier in the session.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 23, 2020 13:40 ET (17:40 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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