New York, Feb 16, 2026, 17:16 EST — Market closed.
- U.S. stock trading is paused for Washington’s Birthday. Eli Lilly finished Friday at $1,040, ticking up roughly 0.2%. (New York Stock Exchange)
- Lilly reported that its Phase 3 LIBRETTO-432 trial for Retevmo hit the primary endpoint in early-stage RET fusion-positive lung cancer. (PR Newswire)
- Lilly’s CFO is set to appear at TD Cowen’s healthcare conference on March 2, giving investors a coming update to watch for the stock. (PR Newswire)
Eli Lilly and Company (LLY) is back in focus as U.S. markets reopen Tuesday, with investors digesting the latest cancer-trial news following the Washington’s Birthday holiday. The stock closed Friday at $1,040, gaining about 0.2%. During the session, shares moved between approximately $1,033 and $1,064. (New York Stock Exchange)
The calendar is key here. U.S. markets are closed Monday, so Tuesday offers the first real chance for traders to react—gauging whether Lilly’s oncology update shifts short-term sentiment on the stock.
Lilly’s valuation lately has hinged mostly on hopes for its blockbuster metabolic franchise. Still, pipeline successes in other areas can shift the narrative—even if they don’t immediately show up in the figures.
Eli Lilly reported that its Phase 3 LIBRETTO-432 study showed Retevmo (selpercatinib) delivered a win on event-free survival compared to placebo for patients with early-stage (II–IIIA) RET fusion-positive non-small cell lung cancer, based on investigator assessment. The company noted that overall survival data is still immature, though it favored the drug. The plan now is to present the full results at a medical meeting and publish them in a journal. Jacob Van Naarden, president of Lilly Oncology, said starting treatment earlier can make the biggest difference for cancer therapies. (PR Newswire)
Event-free survival measures how long patients go without their cancer returning, progressing, or resulting in death—a typical endpoint for adjuvant trials, where treatments follow surgery or radiation to help prevent recurrence. According to CancerNetwork, which covered the topline results, the trial brought in 151 participants and noted that survival numbers remain preliminary. (Cancer Network)
The company’s approach is clear enough: take an already approved targeted drug and move it into earlier-stage disease. At the same time, they’re betting on expanded genomic testing to pinpoint the relatively small group of lung cancer patients with RET fusions in their tumors. It’s a narrow population, but if doctors start to use targeted adjuvant therapies, those patients could stay on treatment for years.
Investors eye a closer milestone coming up in two weeks. Lilly announced that chief financial officer Lucas Montarce is set to speak at a fireside chat during TD Cowen’s annual healthcare conference on March 2. The event will be webcast on the company’s investor site. (PR Newswire)
On Monday, the U.S. Olympic & Paralympic Committee rolled out a new Team USA Athlete Recovery Program, naming Lilly as the presenting partner. The arrangement, which stretches through the Milano Cortina 2026 Winter Games and into the LA28 cycle, is pitched as part of a larger effort to boost athlete health, according to Lilly executive Jennifer Oleksiw. (PR Newswire)
The main issue is what Lilly hasn’t shared yet. There’s no word on how big the benefit is, safety specifics for this use aren’t out, and it’s unclear how fast topline data could translate to a label expansion. Investors can be indifferent to oncology updates if the company’s larger franchises are still the main story.
On Tuesday, traders will be looking to see if the topline win sparks any move in the stock, or if sentiment from biotech and big pharma ends up pushing things in another direction. Next up on the calendar: a deeper data readout at a medical meeting, plus Montarce’s appearance set for March 2.
