|Bid||76.28 x 1300|
|Ask||78.65 x 2200|
|Day's Range||75.52 - 78.90|
|52 Week Range||62.48 - 110.37|
|Beta (5Y Monthly)||0.77|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 03, 2021 - May 07, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||105.38|
The biotech sector was in focus last week with regulatory and pipeline updates from quite a few companies like Regeneron (REGN), Vir (VIR) and KemPharm, Inc. (KMPH).
Eli Lilly and Co (NYSE: LLY) and Incyte Corporation (NASDAQ: INCY) announces top-line results from Phase 3 BRAVE-AA2 study evaluating baricitinib 2-mg and 4-mg in adults with severe alopecia areata (AA). AA is an autoimmune disorder that usually results in unpredictable, patchy hair loss. Both doses of baricitinib met the primary efficacy endpoint at Week 36, demonstrating a statistically significant improvement in scalp hair regrowth compared to placebo. Safety outcomes of baricitinib in BRAVE-AA2 were consistent with its established safety profile in patients with rheumatoid arthritis and atopic dermatitis. No deaths, major adverse cardiovascular events, or venous thromboembolic events were reported in the study. Data from an additional Phase 3 study of baricitinib in AA will be available in the first half of this year. Baricitinib is an oral JAK inhibitor discovered by Incyte and licensed to Lilly. It is approved as Olumiant for moderate to severe active rheumatoid arthritis and moderate to severe atopic dermatitis candidates for systemic therapy. Baricitinib is also being investigated in systematic lupus erythematosus, juvenile idiopathic arthritis, and COVID-19. Price Action: LLY shares are down 0.92% at $202.27, and INCY is down 1.7% at $77.11 on the last check Wednesday. See more from BenzingaClick here for options trades from BenzingaUS Government Calls For Additional Eli Lilly COVID-19 Antibody TherapyVeru Files US Application For TADFIN Combo For Prostate Enlargement© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Eli Lilly and Company (NYSE: LLY) and Incyte (NASDAQ:INCY) announced today top-line results from BRAVE-AA2, a Phase 3 study evaluating the efficacy and safety of once-daily baricitinib 2-mg and 4-mg in adults with severe alopecia areata (AA). Both doses of baricitinib met the primary efficacy endpoint at Week 36, demonstrating a statistically significant improvement in scalp hair regrowth compared to those randomized to placebo. AA is an autoimmune disease that causes patchy hair loss on the scalp, face and sometimes on other areas of the body that can progress. Baricitinib has received Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) for the treatment of AA. This classification aims to expedite the development and review of drugs that are intended to treat a serious condition when preliminary clinical evidence indicates that the drug may demonstrate substantial improvement over already available therapies on a clinically significant endpoint(s). There are currently no FDA-approved treatments for AA.