Eli Lilly (LLY) has today announced patients have been dosed in the world’s first study of a potential antibody treatment designed to fight COVID-19.This investigational medicine, referred to as LY-CoV555, is the first to emerge from the collaboration between Lilly and AbCellera to create antibody therapies for the prevention and treatment of COVID-19.Lilly scientists developed the antibody in just three months after AbCellera and the National Institute of Allergy and Infectious Diseases (NIAID) identified it from a blood sample taken from one of the first U.S. patients who recovered from COVID-19. LY-CoV555 is the first potential new medicine specifically designed to attack SARS-CoV-2, the virus that causes COVID-19.The first patients in the study were dosed at major medical centers in the U.S., including NYU Grossman School of Medicine and Cedars-Sinai in Los Angeles. Study J2W-MC-PYAA is a randomized, placebo-controlled, double-blind Phase 1 trial that aims to investigate the safety, tolerability, pharmacokinetics (PK), and pharmacodynamics (PD) of LY-CoV555 following a single dose administered to participants hospitalized for COVID-19.“Antibody therapies such as LY-CoV555 may have potential for both prevention and treatment of COVID-19 and may be particularly important for groups hardest hit by the disease such as the elderly and those with compromised immune systems,” said Daniel Skovronsky, chief scientific officer of Lilly Research Laboratories.“Later this month, we will review the results of this first human study and intend to initiate broader efficacy trials. At the same time… we also are starting large-scale manufacturing of this potential therapy. If LY-CoV555 becomes part of the near-term solution for COVID-19, we want to… [have] several hundred thousand doses available by the end of the year,” continued Skovronsky.Should Phase 1 results show the antibody can be safely administered, Lilly expects to move into the next phase of testing, studying LY-CoV555 in non-hospitalized COVID-19 patients. The company also plans to study the drug in a preventative setting, focusing on vulnerable patient populations.Lilly is researching multiple approaches to treating COVID-19, including examining existing LLY medicines and collaborating with two biotech companies to discover novel antibody treatments for COVID-19.Shares in Eli Lilly are up 16% year-to-date and 2.5% in Monday’s pre-market trading. Wall Street analysts are divided evenly between 4 Buy ratings and 4 Hold ratings, which add up to a Moderate Buy consensus. The $163.25 average price target implies 7% upside potential in the coming 12 months. (See Eli Lilly’s stock analysis on TipRanks).Related News: BioMarin Provides Positive Gene Therapy Update For Severe Hemophilia A Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses More recent articles from Smarter Analyst: * Drugmaker Abbvie Teams Up With Jacobio To Develop Cancer Inhibitor * Immutep Surges In Pre-Market On Positive Efti Cancer Data * KKR Joins $3.3 Billion Bid To Acquire Spanish Telecom Carrier Masmovil * Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon
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Authorities in cities across the U.S. used tear gas, curfews and arrests in an attempt to contain violent protests sparked by the death of George Floyd. WSJ reporters in Minneapolis, Chicago and Los Angeles describe the worst civil unrest to erupt across the country in decades. Photo: Alex Wong/Getty ImagesShares in UK-based biopharma Adaptimmune (ADAP) spiked 127% in Friday’s trading, after the company reported positive durability and efficacy data in synovial sarcoma at the American Society for Clinical Oncology (ASCO) Annual Meeting.The data demonstrated durability and responses in synovial sarcoma, supporting SPEARHEAD-1 as a potential registrational trial, ADAP announced. Dr David Hong spoke of a 50% response rate with inclusion of unconfirmed PR assessed after data cut-off. The ASCO presentation also described a new response in a patient with lung cancer, and a response in a patient with head and neck cancer.At the same time, Adaptimmune also announced new responses in the SURPASS trial, confirming the potential for SPEAR T‑cell therapies targeting MAGE-A4 to treat a broad range of cancers in addition to sarcoma. In the SURPASS trial, three patients have responded out of the first four treated with ADP-A2M4CD8, ADAP said.These data further support the rationale for two new Phase 2 trials – SPEARHEAD-2 in head and neck cancer, which will begin later this year, and a second trial in esophagogastric junction (EGJ) cancer planned for 1H 2021.“We are raising our PT on shares of ADAP to $9 from $3 driven off data presented at ASCO which demonstrated broader platform value for the company’s T-cell receptor (TCR)-T-cell platform technology as well as increased probability of success (POS) for the indication of synovial sarcoma (SS)” cheered Mizuho Securities analyst Mara Goldstein following the presentation. She now assigns a probability of success for this indication of 90%, up from 70%.According to Goldstein, responses accumulating in other tumor types, while not conclusive, point to broader potential in solid tumors. However she “does not yet see a critical mass in responses to more comfortably assign greater value to new indications.” As a result, the analyst reiterates her hold rating on the stock but tripled her price target to $9. Given ADAP’s recent rally this now translates into downside potential of 19%.Meanwhile JonesTrading analyst Soumit Roy upgraded ADAP to buy from hold previously. He has a more bullish $15 price target on the stock, indicating further upside potential of 35%. Overall, ADAP continues to hold a Moderate Buy analyst consensus, with the Street evenly split between hold and buy. The average analyst price target currently stands at $10 (13% downside potential). (See ADAP stock analysis on TipRanks).Related News: BioMarin Provides Positive Gene Therapy Update For Severe Hemophilia A Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses More recent articles from Smarter Analyst: * KKR Joins $3.3 Billion Bid To Acquire Spanish Telecom Carrier Masmovil * Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon * Google Delays Rollout Of Android Beta Version Amid U.S. Protests * Facebook Holds ‘Productive’ Call With Trump, As Social Media War Rages On