(Benzinga) – Eli Lilly and Company (NYSE: LLY) said Monday that a trial of its antibody treatment for use in hospitalized COVID-19 patients has come to an end as the treatment is unlikely to help such patients.
What Happened: The one of its kind study — conducted by the National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health — was evaluating the efficacy of bamlanivimab, according to a statement issued by the company.
Eli Lilly said that trial data has led to the recommendation that the treatment is unlikely to help hospitalized COVID-19 patients recover from an advanced stage of the disease.
Other studies investigating bamlanivimab will continue, including an NIH-sponsored study evaluating the efficacy of the treatment in mild-to-moderate COVID-19 cases and the company’s own Phase 2 trial in people recently diagnosed with COVID-19 in a non-hospitalized setting.
Why It Matters: The Indianapolis, Indiana-based drug giant said it has submitted for an emergency use authorization for bamlanivimab based on its own Phase 2 trial results.
This month, the drugmaker halted the Phase 3 trial of its antibody treatment due to a “potential safety concern.” It was reported earlier that the Eli Lilly plant being readied to make the antibody treatment for COVID-19 was found to have serious quality control problems by the United States Food and Drug Administration.
Price Action: Eli Lilly shares closed nearly 0.5% lower at $141.70 on Monday and fell 0.83% in the after-hours session.