Eli Lilly’s (LLY) blood cancer (leukemia) treatment called Jaypirca has shown promising results in a clinical trial.
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Results from the trial showed that Eli Lilly’s medication helped patients live longer without the disease progressing or getting worse. In a written statement, the drugmaker said that Jaypirca succeeded in meeting the main goals of the late-stage clinical trial.
The leukemia treatment, which is known chemically as pirtobrutinib, was tested in patients with a type of chronic leukemia called small lymphocytic lymphoma (CLL/SLL). The test was compared to patients with the disease who were treated with standard chemotherapy.
Step Forward
The disease, small lymphocytic lymphoma is characterized by an increased production of abnormal white blood cells that have difficulty fighting infections. It can prove to be deadly for people in the later stages or when not detected early.
Jaypirca is currently approved for patients with CLL/SLL and mantle-cell lymphoma, a rare type of blood cancer, who have had at least two types of other therapy. Eli Lilly is hoping that this latest trial result will pave the way for more widespread use and adoption of the medication. The company is in the process of developing several cancer drugs and treatments.
Is LLY Stock a Buy?
The stock of Eli Lilly has a consensus Strong Buy rating among 20 Wall Street analysts. That rating is based on 16 Buy and four Hold recommendations issued in the last three months. The average LLY price target of $913.69 implies 24.35% upside from current levels.
