Eli Lilly (NYSE:LLY) stock is on the rise Monday following an update concerning its Alzheimer’s disease drug donanemab.
The positive news for LLY stock comes after the release of results from its Phase 2 clinical trial of donanemab. These results show that the drug is successful in slowing the deterioration of cognition and daily function in patients with early symptomatic Alzheimer’s disease.
Eli Lilly’s drug was stacked up against a placebo for the clinical trial. This saw its results meet the primary endpoint of slowing the negative effects of Alzheimer’s by 32% when compared to the placebo over a 76-week period.
Daniel Skovronsky, M.D., Ph.D., the chief science officer of Eli Lilli and president of Lilly Research Laboratories, said this about the news boosting LLY stock up today.
“This unique mechanism and antibody for clearing plaques, discovered at Lilly, has the potential to provide high levels of durable amyloid plaque clearance after limited duration dosing. In conjunction with our expertise in amyloid and tau imaging, this allowed us to conduct a trial to test if reducing amyloid plaques in Alzheimer’s patients to levels seen in scans of healthy individuals could result in clinically meaningful slowing of cognitive decline.”
Eli Lilly notes that it’s planning to speak with regulators about the next phase of its development for donanemab. Until then, the company has launched an extended study for patients taking part in the initial Phase 2 clinical trial.
LLY stock was up 10.2% when markets opened on Monday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.