Lilly's solanezumab fails third Phase III Alzheimer's test

Eli Lilly and Co. (NYSE:LLY) lost nearly $9 billion in market cap on Wednesday when it said it was abandoning efforts to submit solanezumab (LY2062430) for regulatory approval to treat mild dementia in Alzheimer’s disease after the candidate missed the primary endpoint of the EXPEDITION3 trial.

Compared with placebo, the mAb that binds to soluble beta amyloid failed to significantly slow cognitive decline as measured by the 14-item AD Assessment Scale-Cognitive Subscore (ADAS-Cog14) scale (p=.095). Although the data “directionally favored” the candidate, Lilly said any improvements seen were small. ...