Phase III failure could prove costly for Eli Lilly

16 October 2019

Eli Lilly (NYSE: LLY) has announced negative top-line results from the Phase III SEQUOIA trial, evaluating pegilodecakin plus Folfox (folinic acid, 5-FU, oxaliplatin) as a therapy for certain people with pancreatic cancer.

The study did not meet its primary endpoint of overall survival (OS). Shares in the company are down over 1% after morning trading in New York.

Lilly picked up pegilodecakin through its $1.6 billion all-cash acquisition of California’s ARMO BioSciences in the first part of 2018.

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