Eli Lilly's Alzheimer's drug Kisunla wins FDA approval
Eli Lilly & Co.'s new Alzheimer's disease drug, Kisunla, has received approval from the US Food and Drug Administration (FDA), marking a significant advancement in treating the disease. This approval positions Kisunla as the second drug available that can slow the progression of Alzheimer's, a condition affecting around 6 million Americans.
Kisunla's journey to market has been fraught with regulatory hurdles, including the FDA's initial reluctance to fast-track the drug based on early trial results, preferring instead to review late-stage data. This thorough scrutiny culminated in a one-day hearing earlier this year to deliberate on Kisunla's safety and efficacy, eventually leading to its approval. Kisunla will now compete with Eisai Co.'s Leqembi, which has been available in the US since early 2023.
Technical analysis of Eli Lilly & Co. (NYSE: LLY)
Exploring potential trading opportunities, let us review the technical aspects of Eli Lilly's stock:
Investors should closely monitor Eli Lilly’s performance, especially in light of the recent FDA approval of Kisunla. This development could significantly impact the company's market position and stock performance in the pharmaceutical sector.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Kisunla's journey to market has been fraught with regulatory hurdles, including the FDA's initial reluctance to fast-track the drug based on early trial results, preferring instead to review late-stage data. This thorough scrutiny culminated in a one-day hearing earlier this year to deliberate on Kisunla's safety and efficacy, eventually leading to its approval. Kisunla will now compete with Eisai Co.'s Leqembi, which has been available in the US since early 2023.
Technical analysis of Eli Lilly & Co. (NYSE: LLY)
Exploring potential trading opportunities, let us review the technical aspects of Eli Lilly's stock:
- Timeframe: Daily (D1)
- Current trend: there is an observable uptrend, though the stock has recently broken the support level at 905.00 USD and is attempting to consolidate below it
- Resistance level: 917.00 USD
- New support level: after breaking 905.00 USD, further confirmation is necessary to establish new support
- Potential downtrend target: if a downtrend is established, the downside target could be around 820.00 USD
- Short-term target: if the uptrend resumes and the stock price breaks through the resistance at 917.00 USD, a short-term target could be set at 940.00 USD
- Medium-term target: should the upward momentum be sustained, the price might rise to 960.00 USD
Investors should closely monitor Eli Lilly’s performance, especially in light of the recent FDA approval of Kisunla. This development could significantly impact the company's market position and stock performance in the pharmaceutical sector.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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