Eli Lilly seeks emergency use authorization for effective antibody treatment

Eli Lilly has determined its monoclonal antibody treatment reduces patients' COVID-19 viral load and helps them avoid hospitalization, it announced Wednesday.

The treatment involves combining two antibodies and injecting them into patients — similar to the treatment developed by Regeneron that President Trump received. Less than 1 percent of patients sick with COVID-19 and injected with the treatment went to the hospital, compared to 5.8 percent who had a placebo, Eli Lilly's study found. And at the end of 11 days, the antibody combination "significantly reduced" the amount of virus found in patients' nasal swabs.

Last month, the pharmaceutical company also announced positive results from a trial involving just one antibody. Eli Lilly is now seeking the Food and Drug Administration's emergency use authorization for the single antibody treatment. It will likely seek authorization for the combination therapy next month, after it manufactures a bigger supply and gets patients into clinical trials.

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Wednesday's news sent Eli Lilly's shares up more than 3 percent in morning trading.