U.S. begins 2 trials testing Eli Lilly’s coronavirus antibody drug

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In this May 2020 photo provided by Eli Lilly, researchers prepare mammalian cells to produce possible COVID-19 antibodies for testing in a laboratory in Indianapolis.

David Morrison | Eli Lilly via AP

The National Institutes of Health announced Tuesday it is starting two trials testing whether an experimental antibody drug can work as a safe and effective treatment in patients with Covid-19.

The trials, called ACTIV-2 and ACTIV-3, will look at U.S. drugmaker Eli Lilly’s experimental treatment known as LY-CoV555, which is being developed in partnership with Canadian biotech AbCellera. The companies announced Monday they began a phase three trial

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Eli Lilly is using mobile labs to study if its antibody drug can prevent Covid-19 in nursing homes

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Eli Lilly has started late-stage trials to determine whether its antibody drug can prevent Covid-19 in nursing homes — and a fleet of mobile research labs are critical to making the study possible. 

“We wanted to see if we could help people in nursing homes because the disease has been so devastating,” Dr. Dan Skovronsky, chief scientific officer of Eli Lilly, said Monday on CNBC’s “The Exchange.”  “It’s just heartbreaking to think about the isolation, the fear, the illness and death.” 

Nursing homes account for about 8% of Covid-19 cases in the U.S., but about 41% of deaths, according

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Apple, Nordstrom, Eli Lilly, Caterpillar and more

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Pedestrians pass in front of a Nordstrom Inc. store in the Midtown neighborhood of New York, on March 20, 2020.

Gabby Jones | Bloomberg | Getty Images

Check out the companies making headlines in midday trading. 

Apple— Shares of Apple rose more than 2% after a Citi analyst raised his 12-month price target on the technology giant to $400 per share from $310 per share, the highest price forecast on Wall Street. Analyst Jim Suva cited five reasons for the higher price target, including upside from Apple’s wearables segment.

United, American, Delta — Shares of United Airlines gained more than

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Lennar, T-Mobile US, Amazon, Eli Lilly & more

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Take a look at some of the biggest movers in the premarket:

Lennar (LEN) – Lennar reported quarterly profit of $1.65 per share, beating the consensus estimate of $1.18 a share. The home builder’s revenue also beat Street forecasts and Lennar forecast full-year home deliveries above current consensus, amid a rebound in home sales as the economy reopens.

iQIYI (IQ) – China’s Tencent is seeking to become the largest shareholder in the video-streaming company, according to people familiar with the matter who spoke to Reuters. iQIYI is currently majority-owned by China search giant Baidu (BIDU).

T-Mobile US (TMUS) – Federal

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