Eli Lilly & Co. - LLY STOCK NEWS

Eli Lilly and Company (NYSE: LLY) has announced the initiation of BLAZE-2, a Phase 3 trial of LY-CoV555 aimed at preventing SARS-CoV-2 infection in long-term care facilities in the U.S. This study will enroll up to 2,400 participants and assess the antibody's efficacy and safety over eight weeks. LY-CoV555 is a neutralizing antibody developed in collaboration with AbCellera, designed to block viral entry. The trial addresses the urgent need for effective therapies in these vulnerable populations significantly affected by COVID-19.

Eli Lilly and Company (LLY) reported its Q2 2020 financial results with $5.499 billion in revenue, a 2% decline from Q2 2019. However, net income rose 6% to $1.412 billion, translating to an EPS of $1.55. Non-GAAP net income saw a significant increase of 24%, reaching $1.721 billion with an EPS of $1.89, up 26%. Key FDA approvals were achieved for multiple products, including Retevmo and Lyumjev. COVID-19 impacted new patient starts and revenue trends, estimated at a $250 million decline. The company anticipates growth in new prescriptions for key products in H2 2020.

On July 30, 2020, Boehringer Ingelheim and Eli Lilly announced positive top-line results from the EMPEROR-Reduced phase III trial, which evaluated Jardiance® (empagliflozin) in adults with heart failure with reduced ejection fraction. The trial demonstrated superiority over placebo in reducing the risk of cardiovascular death or hospitalization due to heart failure. Safety profiles were consistent with prior data. These findings position Jardiance as a potential new standard of care, with full results scheduled for presentation at the ESC Congress on August 29, 2020, and regulatory submissions planned for 2020.

Eli Lilly's study on P-tau217, a blood test for Alzheimer's disease, published in JAMA, demonstrates its superior ability to distinguish Alzheimer's from other neurodegenerative diseases when compared to current biomarkers and imaging methods. The test showed elevated levels in Colombian mutation carriers' blood, indicating Alzheimer's potential onset up to 20 years before symptoms. The findings support earlier diagnosis and better treatment strategies. However, the test is not yet approved and requires further validation. Lilly remains committed to advancing Alzheimer's research and diagnostics.

Eli Lilly and Company (NYSE: LLY) announced new findings from 17 studies to be presented at the virtual Alzheimer's Association International Conference (AAIC) 2020, from July 27-31. The research focuses on developing disease-modifying therapies for Alzheimer's and improving diagnostic methods. The company has emphasized its commitment to Alzheimer's research for over 30 years, highlighting the urgency of addressing this growing health crisis. Specific studies will cover topics such as blood biomarkers and Flortaucipir PET imaging, aiming to enhance diagnosis and treatment in Alzheimer's patients.

Eli Lilly and Company (NYSE: LLY) will announce its second-quarter 2020 financial results on July 30, 2020. A conference call for investors and media will take place at 9 a.m. Eastern time on the same day. Participants can access the live webcast through a link on Lilly's website, with a replay available afterwards. Eli Lilly aims to enhance its global healthcare leadership by creating life-changing medicines and improving disease management.

Eli Lilly and Company (NYSE:LLY) announced positive results from the OASIS-2 study, demonstrating that mirikizumab, an investigational monoclonal antibody, met primary and key secondary endpoints against both placebo and Cosentyx at Weeks 16 and 52. At Week 16, the Static Physician's Global Assessment (sPGA) showed 79.7% improvement for mirikizumab versus 6.3% for placebo. Safety profiles remained consistent with previous findings. Lilly aims to bring mirikizumab to market as a potential treatment for moderate to severe plaque psoriasis, along with ongoing studies for inflammatory bowel diseases.

Eli Lilly and Company (NYSE: LLY) has declared a third-quarter dividend of $0.74 per share on its outstanding common stock. The dividend is scheduled for payment on September 10, 2020, to shareholders of record by the close of business on August 14, 2020. This dividend announcement reflects Lilly's commitment to returning value to its shareholders and maintaining robust financial health.

Eli Lilly has launched the Know Before the Low initiative to increase awareness and preparedness for low blood sugar emergencies among the 34 million Americans with diabetes. The program aims to educate individuals on recognizing symptoms and developing rescue plans with their support networks. Crystal Bowersox, a diabetes ambassador, emphasizes the importance of having a support system. Resources are available at KnowBeforeTheLow.com to help people understand low blood sugar signs and prepare effective emergency responses.