Eli Lilly (LLY) Stock Slips 2.54% Despite Promising Phase 1 Ovarian Cancer Results

Eli Lilly’s shares fell 2.54% to $1,273.46 even after the company reported encouraging early results for its ovarian cancer program. The dip erased early gains following news that its experimental antibody-drug conjugate Sofe-M (sofetabart mipitecan) combined with bevacizumab produced a 79.3% confirmed objective response rate in a phase 1 study of women with measurable platinum-sensitive ovarian cancer. The trial also reported a 100% disease control rate among evaluable patients. Conducted in 33 enrolled patients, the study saw complete responses in six of 29 with measurable disease and partial responses in 17. Safety remained consistent with expectations, though severe neutropenia occurred in 42%, prompting dose reductions for 42% and treatment discontinuation for 6%.