Jefferies raised its price target for Eli Lilly (LLY) saying the solanezumab data at the Alzheimer's Association International Conference on July 22 is likely to be positive and a "significant catalyst" for shares. It keeps a Buy rating on Lilly in a research note highlighting AbbVie (ABBV), Pfizer (PFE), AstraZeneca (AZN), Roche (RHHBY) and Lilly as its top picks in Global Pharma.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Genentech, a member of the Roche Group, announced that the U.S. Food and Drug Administration has approved Alecensa for adjuvant treatment following tumor resection for patients with anaplastic lymphoma kinase-positive non-small cell lung cancer, as detected by an FDA-approved test. Alecensa is now the first and only ALK inhibitor approved for people with ALK-positive early-stage NSCLC who have undergone surgery to remove their tumor. "With an unprecedented 76% reduction in the risk of disease recurrence or death versus chemotherapy, Alecensa significantly improves upon the standard of care for people with early-stage ALK-positive lung cancer," said Levi Garraway, M.D., Ph.D., chief medical officer and head of Global Product Development. "At Genentech, our goal is to give patients the best chance of cure by bringing effective, targeted treatments to early-stage disease before their cancer has spread. This approval brings us one step closer to achieving that mission."

Unusual total active option classes on open include: Wrap Technologies (WRAP), AstraZeneca (AZN), JetBlue (JBLU), United Continental (UAL), Taiwan Semi (TSM), Nokia (NOK), EBay (EBAY), Maplebear Inc (CART), Airbnb (ABNB), and UnitedHealth (UNH).

AbbVie announced positive top-line results from SELECT-GCA, a Phase 3, multicenter, randomized, double-blind, placebo-controlled study, showing upadacitinib in combination with a 26-week steroid taper regimen achieved its primary endpoint of sustained remissiona from week 12 through week 52 in adults with giant cell arteritis. In this study, 46% of patients receiving upadacitinib 15 mg in combination with a 26-week steroid taper regimen achieved sustained remission compared to 29 percent of patients receiving placebo in combination with a 52-week steroid taper regimen. Key secondary endpoints were also met, including a higher percentage of patients receiving upadacitinib 15 mg in combination with a 26-week steroid taper regimen achieved sustained complete remissionb from week 12 through week 52 compared to patients receiving placebo in combination with a 52-week steroid taper regimen. A lower percentage of patients experienced at least one disease flare through week 52 in the upadacitinib 15 mg group versus the placebo group. The study results also showed that upadacitinib 7.5 mg did not meet the primary or any of the secondary endpoints.

Shares of sleep apnea device makers ResMed (RMD) and Inspire Medical (INSP) are moving in opposite directions after Eli Lilly (LLY) announced topline results of the SURMOUNT-OSA Phase 3 clinical trials, showing tirzepatide injection significantly reduced the apnea-hypopnea index, or AHI, compared to placebo, achieving the primary endpoints of the studies. After initially moving... To see the rest of the story go to thefly.com. See Story Here

Shares of sleep apnea device makers ResMed (RMD) and Inspire Medical (INSP) are slipping in early trading after Eli Lilly (LLY) announced topline results of the SURMOUNT-OSA phase 3 clinical trials that showed tirzepatide injection significantly reduced the apnea-hypopnea index, or AHI, compared to placebo, achieving the primary endpoints of the studies. SURMOUNT-OSA Study 1 evaluated tirzepatide, which Lilly identifies as "the only approved GIP and GLP-1 treatment for chronic weight management, commercialized as Zepbound in the U.S. and Mounjaro in some global markets outside the U.S.," in adults with moderate-to-severe obstructive sleep apnea, or OSA, and obesity who were not on positive airway pressure, or PAP, therapy for 52 weeks. In Wednesday pre-market trading, ResMed shares are down about 3% to $180, while Inspire shares have slipped about 1% to $220.