The coronavirus pandemic has so far infected roughly 2.5 million globally. The death toll has risen at least 171,000 worldwide, according to Johns Hopkins University. The number of deaths in the United States has risen to more than 42,000. In such a health crisis, the world is desperately awaiting a drug and vaccine.
From positive news related to Gilead Sciences’ GILD remdesivir to progress in development of cell therapies for the treatment of COVID-19, let’s take a look at some of the latest developments in the biotech space that have kept the sector surging. Notably, the most popular ETF in the biotech space, iShares Nasdaq Biotechnology ETF IBB has gained 15.4% so far in April (as of Apr 21).