'Put down the bleach, remdesivir is coming' — Here's JP Morgan's take on Gilead

A person enters a building at Gilead Sciences Inc. headquarters in in Foster City, California, U.S., on Thursday, March 19, 2020.
David Paul Morris | Bloomberg via Getty Images

Wall Street is cheering the news that a viable coronavirus treatment could be on the horizon after a pair of studies showed a drug from Gilead Sciences worked in patients.

"Put down the bleach, remdesivir is coming," JPMorgan's biotech analyst Cory Kasimov said in a note to clients on Wednesday.

The analyst's comment is a tongue-in-cheek reference to President Donald Trump's words last week about injecting disinfectants into the body. The president later said he was being sarcastic.