Shares of Eli Lilly & Co. LLY gained 1.6% premarket on Tuesday after the company released new data late Monday on its investigational obesity drug retatrutide. The treatment resulted in average weight loss of up to 17.5%, or 41.2 pounds, after 24 weeks in patients with obesity or overweight and without diabetes, and average weight loss of up to 24.2%, or 57.8 pounds, after 48 weeks, according to results presented at the American Diabetes Association’s scientific conference. “These data firmly place Lilly in the lead of the ‘metabolic revolution’ driven by incretin therapy,” BMO Capital Markets analyst Evan David Seigerman wrote in a research note Monday. Lilly shares have gained 24% in the year to date, compared with 13% for the S&P 500.
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