Gilead Sciences Inc (NASDAQ:GILD) said studies for the use of its antiviral drug remdesivir in patients with severe coronavirus are still inconclusive.
Hopes for the cure were dashed when the World Health Organization accidentally posted preliminary clinical data from trials in China showing that the drug was not successful.
READ: Gilead Sciences gives hope for coronavirus treatment with latest data
The information has now been removed from the website.
Gilead said the study was closed early due to a lack of patients, “though trends in the data suggest a potential benefit for remdesivir, particularly among patients treated early in disease”.
The drug, considered one of the most promising for tackling the pandemic, has not been approved yet and it unclear what effects it can have on Covid-19 patients, though further trials are ongoing.
Data is scheduled for publishing at the end of May.
Craig Erlam, analyst at OANDA, said "the damage has been done" despite Gilead's reassurances.
"This is a market - and global population for the matter - that's craving good news and this just feels like another big setback."
Shares in the pharma giant were up 1% to US$78.42 in pre-market trading on Friday.