LLY - Eli Lilly Just Succeeded Where Others Failed but Does It Matter for the Stock?
2024-02-10 11:30:00 ET
In science and in life, there's a special prestige that comes with being the first person or group to crack a previously intractable problem by using a cunning approach. Believe it or not, bragging rights matter to massive pharma players like Eli Lilly (NYSE: LLY) , too. The question is, should such attainments matter to investors if the financial benefits from them are ambiguous?
This isn't just an academic question. A few weeks ago, Lilly showed some proof that one of its clinical programs did what others couldn't. Let's consider how much that success could impact the stock, and when to see if it's worth considering as a factor in your investing decision.
On Jan. 23, Eli Lilly reported preliminary data from a phase 1/2 clinical trial to see if an experimental gene therapy called AK-OTOF is capable of reversing total hearing loss caused by detrimental mutations in the otoferlin (OTOF) gene. Per the data, the answer to that question appears to be a resounding yes.
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Eli Lilly Just Succeeded Where Others Failed, but Does It Matter for the Stock?