Eli Lilly's Stock Is Trading Lower After Donanemab Showed Mixed Data In Mid-Stage Alzheimer's Study

Eli Lilly and Co (NYSE: LLY) gave an in-depth look at its donanemab Phase 2 trial in Alzheimer’s disease at the International Conference on Alzheimer’s and Parkinson’s Diseases.

• As announced in January, the drug met the trial’s primary goal by slowing down the rate of cognitive and daily function decline by 32% compared to a placebo. But it missed the mark on several secondary tests.
• Donanemab is a monoclonal antibody that was designed to target tau and amyloid plaque, Alzheimer’s-associated proteins.
• New data also showed that donanemab slowed the accumulation of tau and substantially cleared amyloid plaques from the brains of the majority of patients.
• Alzheimer’s in the trial sustained the same level of cognitive skills after 18 months of donanemab treatment as the placebo group showed after 12 months.
• On secondary goals of the study, while patients on the drug did numerically better on various other cognitive and functional scales than placebo, the differences weren’t statistically significant in some cases.
• The new data maintains its safety meets standards; noted side effects had included “amyloid-related” swelling in the brain.
• Price Action: LLY shares decreased 7.01% at $193.5 in premarket trading on the last check Monday.