FDA Reviewing Eli Lilly's Cancer Drug Candidate Selpercatinib
The Food and Drug Administration has agreed to give Eli Lilly's (NYSE: LLY) cancer drug selpercatinib a priority review, which will shave four months off the review time. The agency is expected to deliver a decision about the marketing application in the third quarter of 2020, although it could come sooner considering that the drug has been given a "breakthrough therapy" designation.
Eli Lilly inherited selpercatinib, which used to go by the code name LOXO-292, through its $8 billion acquisition of Loxo Oncology last year. Much of the value of that company was tied to its already-approved cancer therapy Vitrakvi, but selpercatinib was touted as the pipeline drug to watch.
Selpercatinib inhibits a protein called RET, which is involved in cell signaling in the presence of growth factors. The gene becomes altered in some tumors, leading to uncontrolled cell growth.
Source Fool.com
