- The FDA has approved Eli Lilly And Co’s (NYSE:LLY) Retevmo (selpercatinib, 40 mg & 80 mg capsules) for solid tumors.
- The approval comes for adult patients with locally advanced or metastatic solid tumors with a rearranged during transfection (RET) gene fusion that has progressed on or following prior systemic treatment or who have no satisfactory alternative treatment options.
- This indication is approved under accelerated approval based on the overall response rate and duration of response. Continued approval for this indication depends on clinical benefit in the confirmatory trial.
- The company said that in the LIBRETTO-001 trial, selpercatinib demonstrated clinically meaningful and durable responses across various tumor types, with an overall response rate of 44%.
- In addition to the tumor-agnostic approval, the FDA has granted traditional approval for Retevmo in adult patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) with a RET gene fusion.
- This FDA action broadens the Retevmo label to include patients with locally advanced diseases and converts the May 2020 accelerated approval for NSCLC to a traditional approval.
- Price Action: LLY shares are up 2.10% at $302.70 during the premarket session on the last check Thursday.
What’s Happened With Alibaba Shares
Alibaba Group Holding Ltd - ADR (NYSE: BABA) shares closed lower by 2.99% to $78.78 in Thursday's session. Shares of several Chinese stocks are trading lower in possible reaction to concerns over a COVID wave in China.
