Shanghai Junshi Biosciences Co., Ltd. announced that etesevimab (JS016/LY-CoV016) 2,800 mg and bamlanivimab (LY-CoV555) 2,800 mg (the "Therapy") together significantly reduced COVID-19-related hospitalizations and deaths (collectively, "events") in high-risk patients recently diagnosed with COVID-19, meeting the primary endpoint of the Phase III BLAZE-1 trial. Across 1,035 patients, there were 11 events (2.1%) in patients taking the Therapy and 36 events (7.0%) in patients taking placebo, representing a 70% risk reduction (p=0.0004). Etesevimab and bamlanivimab together also demonstrated statistically significant improvements on all key secondary endpoints, providing strong evidence that the Therapy reduced viral load and accelerated symptom resolution. In the Phase III trial, the safety profile of etesevimab and bamlanivimab together was consistent with observations from other Phase I, Phase II and Phase III trials of evaluating these antibodies. Serious adverse events were reported at a similar frequency in the etesevimab and bamlanivimab together and placebo groups. Additionally, initial results from the ongoing BLAZE-4 trial provide viral load and pharmacodynamic/pharmacokinetic data which demonstrated lower doses, including etesevimab 1,400 mg and bamlanivimab 700 mg together, are similar to etesevimab 2,800 mg and bamlanivimab 2,800 mg together. Based on the information available to the Company, Eli Lilly and Company ("Lilly") plans to explore even lower doses of etesevimab and bamlanivimab together, as lower doses can maximize available supply to treat more patients, allow potential for subcutaneous dosing, and potentially reduce the burden on healthcare system and patients through reduced infusion times. In November 2020, Lilly submitted a request to the United States Food and Drug Administration (the "FDA") for emergency use authorization for etesevimab and bamlanivimab together as another treatment for mild to moderate COVID-19 in high-risk patients. It remains under review by the FDA. Lilly will accelerate the manufacturing of etesevimab in collaboration with Amgen, providing up to 1 million doses of etesevimab for administration with bamlanivimab by mid-2021 - including more than 250,000 doses in the first quarter - for use around the world.