⏸️ 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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“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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