Eli Lilly (NYSE:LLY) stock is getting a boost on Wednesday after the company announced results from an Alzheimer’s clinical trial.
The big news traders are celebrating is the effectiveness of donanemab as a treatment for Alzheimer’s. The Phase 3 clinical trial showed it was effective in reducing cognitive and functional decline in patients with early symptomatic Alzheimer’s disease.
These results mean that the clinical trial met its primary endpoint. To go along with that, Eli Lilly notes that the clinical trial of donanemab was also successful in meeting all of its secondary endpoints.
Considering the positive results, Eli Lilly says it plans for global regulatory submissions as soon as possible. That includes expectations for a submission to the U.S. Food and Drug Administration (FDA) during the current quarter.
What This Means for LLY Stock
Taking into account the positive data from the clinical trial, it seems likely that regulators will support a submission from Eli Lilly. If that happens, it would present the company with a new treatment for Alzheimer’s.
That’s a big deal, as any new drug approval means a new source of revenue for the pharmaceutical company. That could also be a positive for LLY stock, as it could be beneficial to the company’s earnings reports.
LLY stock is up 3.4% as of Wednesday morning and up 14.5% since the start of the year.
Investors seeking out more of the most recent stock market news will want to stick around!
We’ve got all of the hottest stock market news traders need to know about on Wednesday! Among that is what has shares of Actelis Networks (NASDAQ:ASNS), Guardforce AI (NASDAQ:GFAI) and Akanda (NASDAQ:AKAN) stock moving today. You can find out more on these matters at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
