Eli Lilly And Co (NYSE:LLY) shares were moving higher Wednesday after the large-cap biopharma released positive proof-of-concept data for its LY-CoV555 monoclonal antibody treatment candidate for SARS-CoV-2, the virus that causes COVID-19.
What Happened: An interim analysis of proof-of-concept data from a Phase 2 study dubbed BLAZE-1 of LY-CoV555 for the treatment of symptomatic COVID-19 in the outpatient setting showed a reduced rate of hospitalization, according to Lilly.
The trial evaluated mild-to-moderate recently diagnosed patients who received placebo or one of three dosages: 700mg, 2,800mg and 7,000 mg.
The prespecified primary endpoint of change from baseline in viral load at day 11 was met at the 2,800mg dose level, Lilly said. Additional analysis of viral data demonstrated that LY-CoV555 improved viral clearance at an earlier point in time — day three — and reduced the proportion of patients with persistently high viral load at later time points, the drugmaker said.
The rate of hospitalization and emergency room visits was 1.7% for the LY-CoV555 arm compared to 6% for the placebo arm, which corresponds to a 72% risk reduction in this limited population.
LY-CoV555 was also found to be well-tolerated, with no drug-related serious adverse events reported.
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What's Next: Lilly said it intends to quickly publish the results of this interim analysis in a peer-reviewed journal and discuss appropriate next steps with global regulators.
The BLAZE-1 clinical study is ongoing and is testing LY-CoV555 in combination with a second Lilly antibody, LY-CoV016, which binds a different epitope in the SARS-CoV-2 spike region.
LY-CoV555 is also being evaluated in a late-stage study dubbed Blaze-2 as a preventative treatment option in nursing home residents and staff.
Regeneron Pharmaceuticals Inc (NASDAQ:REGN), the GlaxoSmithKline plc (NYSE:GSK)/Vir Biotechnology Inc (NASDAQ:VIR) and AstraZeneca plc (NYSE:AZN) are among the companies that are testing antibodies or antibody cocktails as treatment or preventative options.
LLY Price Action: At last check, Lilly shares were rising 1.05% to $151.65.