Categories Analysis, Health Care, Trending Stocks

Latest study shows Eli Lilly’s (LLY) antibody reduces COVID-19 by 80%

Bamlanivimab is authorized for emergency use by the FDA for the treatment of mild to moderate COVID-19

Eli Lilly and Company (NYSE: LLY) announced that the results from its latest study indicated that its monoclonal antibody bamlanivimab reduced the risk of contracting COVID-19 significantly in nursing homes.

Trial

The results from the Phase 3 BLAZE-2 trial demonstrated that the monoclonal antibody bamlanivimab reduced the risk of contracting COVID-19 by up to 80%. The trial was conducted in partnership with the National Institute of Allergy and Infectious Diseases and part of the National Institutes of Health, and the COVID-19 Prevention Network.

The trial involved 965 participants which included residents and staff of nursing homes across the US. The group that received bamlanivimab displayed a significantly lower frequency of symptomatic COVID-19 versus the placebo group. In a subgroup of nursing home residents, bamlanivimab was shown to have reduced the risk of COVID-19 by up to 80%.

There were four deaths reported in the placebo group due to COVID-19 but no deaths from COVID-19 were reported in the bamlanivimab group.

“These data provide important additional clinical evidence regarding the use of bamlanivimab to fight COVID-19 and strengthen our conviction that monoclonal antibodies such as bamlanivimab can play a critical role in turning the tide of this pandemic. We’re glad bamlanivimab is already available as a treatment for patients at high risk for progressing to severe COVID-19 illness or hospitalization, including those in nursing homes, and look forward to working with regulators to explore expanding the emergency use authorization to prevent the spread of COVID-19 in these facilities.”Daniel Skovronsky, Chief Scientific Officer at Eli Lilly and President of Lilly Research Laboratories

Bamlanivimab is authorized for emergency use by the FDA for the treatment of mild to moderate COVID-19 in adults and pediatric patients who are 12 years or older and are at risk of progressing to severe COVID-19 and/or hospitalization.

Bamlanivimab is not authorized for patients who are hospitalized due to COVID-19 or who require oxygen therapy due to the virus. There were no benefits seen from treatment with bamlanivimab in patients hospitalized due to COVID-19.

Stock

Eli Lilly’s shares traded in green territory during afternoon hours on Thursday. The stock has gained 43% in the past 12 months and 20% since the beginning of this year.

Eli Lilly will report its fourth quarter and full year 2020 earnings results on Friday, January 29, 2021.

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