Eli Lilly Stock Rises on Positive Migraine Pill Test Results
Lilly Biotech Center.

Shares of biotech company Eli Lilly and Co. (LLY) were up 1.3% to $83 in premarket trading Friday after the company announced that phase 3 trials of its migraine pain drug lasmiditan were positive.

The majority of patients in the study reported feeling no migraine pain two hours after the drug was administered. 

"Lasmiditan represents the first significant innovation in the acute treatment of migraine in more than 20 years, and could provide a much-needed new treatment option for the 36 million Americans living with migraine," said Christi Shaw, president of Lilly Bio-Medicines.

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