S&P 500 Futures: Tests 3,500 after Pharmamar says Aplidin drug is enormously promising in treating COVID-19

Dhwani Mehta FXStreet

With the global COVID-19 count topping 40 million, amid the latest surge in the European coronavirus cases, Spanish pharmaceutical company PharmaMar came out with a piece of welcome news, citing that its cancer drug - Aplidin is enormously promising in treating COVID-19.

This comes after the Spanish pharma giant said Friday, a clinical trial of its cancer drug Aplidin to treat adult patients with COVID-19 was successful and it now aims to start phase III trials.

The statement read: "With these data, the company will begin, in the next few days, conversations with the regulatory agencies to define the next phase III pivotal study for plitidepsin (Aplidin) in patients with COVID-19, who require hospitalization."

Note that the drug is approved in Australia for the treatment of multiple myeloma.

S&P 500 futures rebound to 3,500

Amid encouraging vaccine news and upbeat European earnings reports, the sentiment remains lifted and helps boost the recovery in the S&P 500 futures.

The futures tied to the S&P 500 index rallies 0.88% to trade at 3,493, recovering from Friday’s low of 3,461.25.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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