Eli Lilly & Co.’s stock LLY jumped 4% premarket Wednesday, after the company announced positive data from a late-stage trial of its Alzheimer’s disease treatment donanemab. The company said the Phase 3 trial showed that donanemab “significantly slowed cognitive and functional decline” in patients with early symptomatic Alzheimer’s disease, and met its primary and all secondary endpoints. Nearly half, or 47% of participants, had no clinical progression at one year, compared to 29% on placebo. Donanemab slowed clinical decline by 35% compared to placebo and resulted in 40% less decline on the ability to perform activities of daily living, the company said. Lilly is now planning to proceed with global regulatory submissions as quickly as possible and expects to make a submission to the U.S. Food and Drug Administration this quarter. The stock has gained 10% in the year to date, while the S&P 500 SPX has gained 7%.
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