AnaptysBio plunges as Eli Lilly drops co's arthritis drug from pipeline

AnaptysBio

30/10/2024 13:22

** Shares of biotechnology firm AnaptysBio  ANAB.O  fall
~29% to $21.99 premarket
    ** Pharma giant Eli Lilly  LLY.N , in an investor
presentation, discloses it has dropped ANAB's PD-1 agonist
peresolimab to treat rheumatoid arthritis from its pipeline 
    ** "The clinical program's discontinuation is a negative for
perception of ANAB's PD-1 agonist rosnilimab," analysts at
Leerink Partners wrote in a note 
    ** As of last close, ANAB up ~44% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))