Alzheimer's group may not offer early look at Lilly data
According to reports, it is likely that the Alzheimer's Association will not provide an early look at highly coveted clinical trial data on an experimental drug from Eli Lilly and Co.
News of the impending release increased the company's shares and this may lead to such a decision. It was thought that the influential patient group will be posting abstracts consisting of detailed trial findings on its website within the next few days, prior to a conference scheduled to be held July in Washington, D. C.
As per reports, data in the abstracts would have been put through an embargo and led to ban their public release until the conference. However, those taking part, enrolled to attend the meeting would have had right to access their contents. It led to questions regarding whether they could get some information that could have an effect on stock market trading.
This week, Lilly's shares have jumped 7%. It was estimated by Wall Street that positive long-term effectiveness data could come from the study of solanezumab, which is an injectable drug that is expected to become the first approved treatment to holdup development of Alzheimer's.
According to a spokesman for the Alzheimer's Association, the abstracts, summaries of clinical trial data that will be presented at the meeting, could be posted after some days on a special website for those who have registered for the event. He added that the data would be strictly 'banned' from publication or distribution until the meeting next month.
Leerink Partners analyst Seamus Fernandez said, "We are growing increasingly concerned that what is really driving the stock higher is hope for solanezumab and AD more broadly based solely on the data from this abstract and its presentation in July - putting significant add'l value for solanezumab in LLY's stock".