Eli Lilly announced that the FDA granted Breakthrough Therapy designation to its investigational drug, sofetabart mipitecan (LY4170156), for the treatment of platinum-resistant ovarian cancer.

  • The designation was based on promising Phase 1 results and targets a significant unmet medical need in patients previously treated with bevacizumab and mirvetuximab soravtansine.
  • Lilly has already initiated the Phase 3 FRAmework-01 trial for the compound.
  • LLY is trading at $1030.90 in pre-market, down 0.72%, outperforming broader market declines.