Eli Lilly (LLY) has revealed positive results from the recently completed Phase 3 study Centurion for adults who took Reyvow (lasmiditan) C-V for their migraine attacks.
At doses of 100 mg or 200 mg these adults had 3.8 and 4.6 times greater odds, respectively, of achieving pain freedom at 2 hours compared to those taking placebo (co-primary endpoint).
Additionally, Reyvow demonstrated superiority over placebo in all gated endpoints, including proportions of study participants who after treating their first migraine attack reported pain freedom at 1 hour (200 mg dose), pain relief at 1 hour and 2 hours (both doses), sustained pain freedom at 24 hours (both doses) and 48 hours (200 mg dose), and no disability at 2 hours (both doses).
“For the 30 million adults in the U.S. living with migraine attacks, this debilitating neurologic disease often disrupts daily activities and sidelines them in moments that matter,” cheered LLY’s Mark Mintun.
“We are delighted that REYVOW met all 18 patient-centric endpoints. These new clinical insights into REYVOW’s efficacy should enable healthcare providers to have more meaningful conversations with people with migraine who seek freedom from their painful attacks.”
The study assessed Reyvow’s efficacy and safety, including consistency of response, in the acute treatment of migraine for adults, with or without aura, across four attacks. In the trial, 1,471 people with migraine were randomized and received at least one dose of either Reyvow 200 mg or 100 mg or control treatment.
Study results showed that people receiving REYVOW 200 mg had 4.6 times greater odds of pain freedom at 2 hours (co-primary endpoint) than those on placebo (29.3% vs. 8.4%). Those taking REYVOW 100 mg had 3.8 times greater odds of pain freedom at 2 hours than those on placebo (25.8% vs. 8.4%).
At 24 hours, participants receiving 200 mg had 4.7 times greater odds to reach sustained pain freedom at 24 hours than those on placebo (17.3% vs. 4.3%), and those taking 100 mg had 3.5 times greater odds compared to placebo (13.6% vs. 4.3%).
Shares in LLY are up 13% year-to-date and the stock scores a bullish Strong Buy Street consensus. That’s with a $176 average analyst price target, indicating 19% upside potential lies ahead.
Morgan Stanley analyst David Risinger has just upgraded Eli Lilly from hold to buy, while ramping up his price target from $157 to $176. He expects outperformance to be driven by upward pressure on long-term growth prospects, positive Phase 3 tirzepatide results starting in 4Q20, and rising enthusiasm for Lilly’s Alzheimer’s pipeline.
“We believe consensus under-appreciates Lilly’s long-term revenue and EPS growth potential,” Risinger wrote, adding that tirzepatide that could be “best-in-class for glucose lowering, weight loss, and cardiovascular risk.” He now projects 2025e tirzepatide sales of $3.7B, 124% above consensus’ $1.7B. (See LLY stock analysis on TipRanks)
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