Shares of Eli Lilly and Co. jumped 1.6% in premarket trade Friday, after the company said a late-stage study of a migraine treatment met its primary goals. The trial of galcanezumab, an investigational treatment for the prevention of episodic and chronic migraine, met its primary endpoint. “The robust results from these three studies bring us one step closer to helping people experience more migraine-free days, an important treatment goal for those living with this serious disease,” Christi Shaw, president of Lilly Bio-Medicines, said in a statement. The company is now planning to submit a biologics license application to the U.S. Food and Drug Administration in the second half. More than 38 million Americans suffer from migraine, which affects three times more women than men. Lilly shares have gained 9% in 2017 through Thursday, while the S&P 500 has gained 7%.
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