Eli Lilly & Co.’s high-profile anti-amyloid treatment solanezumab failed a third Phase III trial, EXPEDITION3, even though it was conducted in patients with milder Alzheimer’s disease and relied on a biomarker to test patients for amyloid. The trial failure, announced Nov. 23, was largely expected, but nonetheless casts another shadow over the field of research.
Lilly’s stock opened 15% lower at $64.34 on the news, as some investors had bought into the stock ahead of the catalyst in the event the data were positive, which would have resulted in substantial upside
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