Eli Lilly Stock Is Tumbling Today - Here's Why
Portfolio Pulse from Vandana Singh
Eli Lilly and Co (NYSE:LLY) reported results from the SURMOUNT-4 Phase 3 study of Zepbound (tirzepatide) for obesity, excluding type 2 diabetes. Zepbound met its primary endpoint and key secondary endpoints over placebo. Despite positive results, LLY shares fell by 4.74% to $569.73.
December 11, 2023 | 5:02 pm
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Eli Lilly's Zepbound met primary and secondary endpoints in the SURMOUNT-4 Phase 3 study for obesity. However, LLY stock dropped 4.74% to $569.73.
Despite the positive study results for Zepbound, Eli Lilly's stock experienced a significant drop. This could be due to market expectations already pricing in the positive outcomes or concerns about adverse events reported. The short-term impact is negative, as reflected in the stock price decline.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100