FDA AdCom on Eli Lilly’s donanemab better than anticipated, says Cantor

Cantor Fitzgerald analyst Louise Chen says the Peripheral and Central Nervous System Drugs Advisory Committee, or AdCom, meeting to discuss the potential approval of Eli Lilly’s donanemab to treat Alzheimer’s disease was better than the firm had anticipated based on its read of the FDA briefing document, noting that the committee voted unanimously yes on the two questions posed by the FDA about effectiveness and risk/benefit. Investor focus on donanemab has been greatly diminished since the launch of Zepbound, but a growth opportunity that diversifies sales away from obesity/cardiometabolic diseases is good for Eli Lilly, argues the analyst, who has an Overweight rating and $885 price target on Lilly shares.