Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- Eli Lilly (LLY) said that a late-stage study showed its new GLP-1 pill, orforglipron, helped patients maintain their weight after they transitioned from Lilly’s Zepbound or Novo Nordisk’s (NVO) Wegovy, popular GLP-1 drugs that are administered by injection.
The Phase 3 study showed that at 52 weeks, patients who switched to orforglipron from Wegovy maintained their weight loss with an average difference of 0.9 kg, while those who switched from Zepbound maintained their weight loss with an average difference of 5.0 kg, Lilly said in a statement.
“Obesity is a chronic, progressive disease, and sustaining weight loss remains a significant challenge for many,” said Kenneth Custer, EVP of Lilly Cardiometabolic Health, in the statement.
“If approved for the treatment of obesity, orforglipron could provide a convenient alternative for the millions of individuals living with obesity around the globe to continue their long-term health journey,” Custer added.
Orforglipron was developed by Chugai (CHGCF), with Lilly licensing the drug candidate in 2018. Lilly has applied for FDA approval of the drug for the treatment of obesity.
- Intercontinental Exchange (ICE), which owns the New York Stock Exchange, is reportedly in talks to participate in a funding round for MoonPay.
The funding round, which is nearing completion, is targeting a valuation of around $5 billion for the crypto fintech, according to Bloomberg, which cited people close to the deal.