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⏸️ Eli Lilly's COVID-19 Trial Paused
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Hey Global Investor, here's what you need to know before the US markets open.
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Eli Lilly COVID Antibody Trial Paused Because of Safety Concerns
Phase three trial of Lilly’s ACTIV-3 Monoclonal antibody treatment for COVID-19 paused due to potential safety concerns.
Background: Pharma companies have been aggressively working to bring treatments to COVID-19 to the market. Eli Lilly, Johnson & Johnson, and Gilead Sciences are some of the names working to address the pandemic.
What Happened? An independent data safety monitoring board (DSMB) recommended pausing enrollment in the US government-sponsored ACTIV-3 trial as per the company’s statement. Lilly didn’t advise the reason behind the panel’s recommendation. The news of the trial's pause follows Johnson & Johnson’s similar decision because of a sick volunteer.
Eli Lilly is one of the several pharma companies developing monoclonal antibody therapies that can potentially stem the spread of early COVID-19 symptoms. Government health officials and pharmaceutical executives see the treatment as a potential cure.
The therapy has been in the spotlight in recent days after President Donald Trump received a similar treatment developed by Regeneron Pharmaceuticals. Post recovery, Trump has called the treatment as a “cure” and vowed to push for its approval in the US.
The ACTIV-3 trial is designed to test Lilly’s monoclonal antibody in combination with Gilead Science Inc.’s antiviral Remdesivir. Backed by the Trump administration, the 300-participant trial is part of the National Institute of Health’s “ACTIV” program to find a cure for COVID-19
Such pauses for large clinical trials are not uncommon and don’t necessarily mean anything is wrong with the treatment. The monitoring board must make a final decision before any further action. Lilly said it is supportive of the monitoring board’s decision to “cautiously ensure the safety of the patients participating in the study.”
Market reaction: Eli Lilly closed at $150.08, down 2.85%
Company Snapshot 📈
LLY $150.08 -4.41 (-2.85%)
Analyst Rating (15 Ratings) BUY 60% HOLD 40% SELL 0%
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6.00 PM IST: Initial jobless claims (regular state program, SA)
6.00 PM IST: Continuing jobless claims (regular state program, SA)
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Fun Fact of The Day 🌞
The word “emoji” comes from the Japanese words “e” and “moji”, which mean “picture” and “character”
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