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What Gilead wants its remdesivir bottle to look like. Photo: U.S. Patent and Trademark Office

Gilead Sciences is still testing its potential coronavirus treatment, but here's a sign the company may be expecting good news: It has applied for a trademark for the drug's packaging.

Why it matters: "The reason you make this trademark is because you think you're going to get a product out there soon," said Josh Gerben, a trademark lawyer who first noticed Gilead's application. "This is part of your brand protection."

The big picture: Gilead's drug, remdesivir, is seen as a promising candidate to treat the novel coronavirus, but is still undergoing clinical trials and hasn't been proven to work.

  • Gilead is slated to release new data on remdesivir data later this month, from randomized trials in China.
  • Filing for a packaging trademark indicates the company is seriously thinking about this drug's branding and mass distribution.

What they're saying: A Gilead spokesperson says the trademark application "is par for the course" and "entirely consistent with our stated responsibility to plan for a potential regulatory authorization should remdesivir be proven safe and effective."

Gilead has already trademarked the same blue-and-gray bottle top and white labeling in other federally approved drugs.

Go deeper

Trading platforms curb trading on high-flying Reddit stocks

Major trading platforms including Robinhood, TDAmeritrade and Interactive Brokers are restricting — or cutting off entirely — trading on high-flying stocks like GameStop and AMC Entertainment.

Why it matters: It limits access to the traders that have contributed to the wild Reddit-driven activity of the past few days — a phenomenon that has gripped Wall Street and the country.

Updated 56 mins ago - Economy & Business

2020 was the economy's worst year since 1946

Source: FRED; Billions of chained 2012 dollars; Chart: Axios Visuals

One of the last major economic report cards of the Trump era lends perspective to the historic damage caused by the pandemic, which continued to weigh on growth in the final quarter of 2020.

By the numbers: The U.S. economy grew at a 4% annualized pace in the fourth quarter, a sharp slowdown in growth compared to the prior quarter. For the full year, the economy shrank by 3.5% — the first annual contraction since the financial crisis and the worst decline since 1946.

Dion Rabouin, author of Markets
3 hours ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

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