Eli Lilly & Co. (LLY): Expert Call Supports Amyloid Hypothesis of AD - BMO
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BMO Capital analyst, Alex Arfaei, reiterated his Outperform rating on shares of Eli Lilly (NYSE: LLY) after an expert call highlighted that the evidence supporting the amyloid hypothesis of AD outweighs the evidence that undercuts it.
The expert highlighted plausible explanations that could explain the observed discrepancies, explained why ADAS-Cog-14 is an appropriate endpoint in mild AD, and estimated that Lilly's EXPEDITION-3 trial has a ~60% probability of success.
The expert believes that the future is probably combination therapy, focusing on different drivers of AD (e.g., AB and Tau) and varying by disease stage. He believes that Sola's excellent safety profile makes it an attractive option for combinations.
No change to the price target of $94.
Shares of Eli Lilly closed at $80.26 yesterday.
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