Why Eli Lilly Stock Is Soaring Today
Shares of Eli Lilly (NYSE: LLY) were soaring 7.8% higher at 11:05 a.m. EDT on Thursday. The big gain came after the drugmaker announced that the U.S. Food and Drug Administration (FDA) had granted Breakthrough Therapy designation to Lilly's experimental Alzheimer's disease drug donanemab. Lilly also said that it plans to file for accelerated FDA approval of the drug later this year.
Breakthrough Therapy designation allows for an expedited review of drugs that target serious conditions. This designation can be given when "preliminary clinical evidence indicates that the drug may demonstrate substantial improvement over available therapy on a clinically significant endpoint(s)."
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Source Fool.com