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Eli Lilly News: LLY Stock Soars 15% on Successful Breast Cancer Drug Trial

Eli Lilly (NYSE:LLY) is in the news Tuesday after a successful breast cancer drug trial sent LLY stock higher.

Eli Lilly News: LLY Stock Soars 15% on Successful Breast Cancer Drug Trial

Source: Jonathan Weiss / Shutterstock.com

Eli Lilly notes in a news release that the company’s Phase 3 of Verzenio has strong interim results. The study has the company treating patients with high risk of breast cancer recurrence with Verzenio and adjuvant endocrine therapy. It found a statistical improvement over just using adjuvant endocrine therapy.

The study has the company testing 5,637 that are at high risk of having their early breast cancer return. While the study won’t be complete until 2027, these interim results are considered definitive. The company will be tracking patients even after the study ends to determine other factors, such as survivability.

Anne White, president of Lilly Oncology, said this about the Eli Lilly news.

“Verzenio in combination with endocrine therapy has demonstrated positive results in people with high risk HR+, HER2- early breast cancer – a major milestone with the potential to change the paradigm of how early breast cancer is treated and a first for the CDK4 & 6 inhibitor class. The fact that these results were achieved early, at the interim analysis, is also exciting because it will help us speed this innovation to people who need it. We look forward to submitting these data to regulatory authorities before the end of 2020.”

Eli Lilly also notes that it plans to present data from this study at a medical meeting later this year.

LLY stock was up 15.2% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/06/eli-lilly-breast-cancer-news-boosts-lly-stock/.

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