Why Eli Lilly Is Soaring Today
Shares of Eli Lilly (NYSE: LLY) surged on Tuesday morning after the drugmaker reported positive results from a clinical trial for Verzenio (abemaciclib), a cancer treatment. The company's stock is up by 15.2% as of 12:08 p.m. EDT today.
Verzenio is a CDK4 & 6 inhibitor, a type of drug that targets enzymes called CDK4 and CDK6. This medicine is already approved for the treatment of metastatic breast cancer and advanced breast cancer. Verzenio is currently being investigated as a potential treatment for early breast cancer in patients who are "at a high risk of recurrence." Interim analysis of a phase 3 clinical trial for the drug revealed that Verzenio, in combination with standard adjuvant therapy, achieved the primary endpoint of invasive disease-free survival, "significantly decreasing the risk of breast cancer recurrence or death" when compared to standard endocrine therapy alone.
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Source Fool.com
