Eli Lilly Terminates A Study Of Bimagrumab In Obesity

Eli Lilly & Co. (LLY) has halted a study of its drug Bimagrumab, alone or in combination with its approved weight-loss drug Tirzepatide, in patients with obesity.

A U.S. registry of clinical trials indicates that the study has been terminated due to strategic business reasons without elaboration.

The purpose of the study was to see how well and how safely Bimagrumab, Tirzepatide, and the combination worked in lowering body weight in participants with obesity or overweight and type 2 diabetes. Tirzepatide is the active ingredient in the company’s popular obesity drug Zepbound. While the primary goal of the study was weight loss, the company also sought to identify the change in body fat mass associated with the drug.

Bloomberg first reported the termination of the trial. Following the development, the stock traded nearly 1% lower in Thursday’s pre-market session.

On Stocktwits, retail sentiment around LLY stock rose from ‘extremely bearish’ to ‘bearish’ territory over the past 24 hours, while message volume stayed at ‘low’ levels.

Lilly closed the mid-stage trial on June 10, after starting it in May, according to the registry. The study had 50 locations in the U.S. and abroad and was supposed to last about 13 months. Lilly gained access to Bimagrumab through its $1.925 billion acquisition of privately held Versanis Bio, which was completed in August 2023.

A parallel study in obese patients without diabetes remains active, Bloomberg noted.

Eli Lilly said in June that patients who took the highest dose of Bimagrumab alongside rival Novo Nordisk’s Semaglutide lost more fat mass than those on Semaglutide alone in a trial.

LLY stock is down 4% this year and approximately 20% over the past 12 months. 

Read also: Evaxion Stock Jumps A Whopping 43% Pre-Market – Here’s What Happened

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