Fact check: Was remdesivir treatment associated with a 62% reduction in mortality rate?

On July 10, 2020, Gilead announced

remdesivir treatment was associated with significantly improved clinical
recovery and a 62 percent reduction in the risk of mortality compared to
standard of care…. The mortality rate for patients treated with remdesivir in
the analysis was 7.6 percent at Day 14 compared with 12.5 percent among patients
not taking remdesivir (adjusted odds ratio 0.38, 95% confidence interval
0.22-0.68, p=0.001).

How is the 62% reduction calculated? Naively, a drop from 12.5% to 7.6% appears to be a 39% (=(12.5-7.6)/12.5) reduction.