Eli Lilly and Company (NYSE:LLY) shares dipped Friday on the back of news its Emgality drug did not meet the CHALLENGE-MIG clinical trial's primary endpoint.
The company's shares are down around 0.4% at the time of writing, trading above the $452 mark.
The monoclonal antibody, which was approved by the FDA in September 2018 for the preventive treatment of migraine in adults, did not meet the 580-patient, three-month study's primary endpoint of statistical superiority to Nurtec ODT on the percent of participants reaching a 50% or more reduction in monthly migraine headache days.
The company said the response rates were similar. However, it did demonstrate efficacy and safety in the three-month study, consistent with Emgality's previous six-month studies, LLY said, adding that it performed numerically better on key secondary endpoints of the three-month trial.
"These results bolster our knowledge of Emgality's ability to work quickly and help patients improve their quality of life with less frequent dosing," said Anne White, executive vice president of Eli Lilly and Company and president of Lilly Neuroscience.