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MarketWatch MarketPulseAug 03, 2020
Lilly's stock rises as it announces late-stage trial for COVID-19 drug in nursing homes
Shares of Eli Lilly & Co. gained 1.1% in premarket trading on Monday after the drugmaker said it started a Phase 3 trial for a treatment that aims to prevent COVID-19 infections in residents and workers in nursing homes. It is estimated that at least 8% of U.S. COVID-19 cases and more than 41% of deaths have occurred in people linked to nursing homes, according to The New York Times. Lilly is testing an experimental antibody it developed with the privately held AbCellera Biologics Inc. to see if it can prevent infections in people who live or work in a facility that has recently reported a case of the coronavirus. The antibody was identified in the blood sample of one of the first people in the U.S. to test positive for the virus. The trial, expected to enroll 2,400 people by September, will be conducted with the National Institute of Allergy and Infectious Diseases, with plans to release the late-stage data sometime in the fourth quarter. Lilly's stock has gained 14.3% so far this year. The S&P 500 is up 1.2%.

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MarketWatch MarketPulseAug 03, 2020
Coronavirus tally: Global cases of COVID-19 top 18 million, 689,625 deaths, Dr. Birx says US in 'dangerous new phase'
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 18 million on Monday, according to data aggregated by Johns Hopkins University, and the death toll rose to 689,625. At least 10.7 million people have recovered. The U.S. case tally climbed to 4.67 million and the death toll rose to 154,860. More than 1.9 million new U.S. cases were reported in July, the most counted in a single month since the start of the outbreak, the Washington Post reported. Dr. Deborah Birx, the coordinator of the White House's coronavirus task force, warned Sunday that the COVID-19 pandemic has entered a "new phase," while House Speaker Nancy Pelosi said she has no confidence in Birx. Brazil is second to the U.S. with 2.7 million cases and 94,104 deaths. India is third measured by cases at 1.8 million, followed by Russia with 854,641 and South Africa with 511,485. The U.K. has 306,319 cases and 46,286 fatalities, the highest in Europe and fourth highest in the world, after Mexico moved past it by deaths on Saturday, Mexico has 439,046 cases and 47,746 deaths. China, where the illness was first reported late last year, has 87,985 cases, and 4,669 fatalities.|

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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