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Stock Alert: Eli Lilly Drops As Alzheimer's Drug Fails To Meet Primary Endpoint

(RTTNews) - Shares of Eli Lilly and Co. (LLY) are losing more than 2 percent in the morning trade on Monday, at $142.95, after the drug maker said results from a trial of its key Alzheimer's drug failed to meet the primary endpoint to slow the rate of progression of the disease. The stock has been trading in a range of $101.36 to $147.87 in the past 52 weeks.

Lilly said analysis performed by Washington University School of Medicine in the Dominantly Inherited Alzheimer Network Trials Unit or DIAN-TU Study showed solanezumab did not meet the primary endpoint.

The goal of the phase 2/3 randomized, double-blind, placebo-controlled study was to test potential disease-modifying therapies in individuals at risk for or with dominantly inherited Alzheimer's disease, which is caused by rare gene mutations.

Lilly also said it currently does not plan to pursue a submission for solanezumab in people with dominantly inherited Alzheimer's disease, based on the result of the primary endpoint. The outcome does not impact the ongoing solanezumab Anti-Amyloid Treatment in Asymptomatic Alzheimer's study, Lilly added.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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