Why ResMed Shares Are Trading Lower Monday

ResMed, Inc. (NYSE:RMD) stock is trading lower Monday after Eli Lilly and Company (NYSE:LLY) released data from a clinical trial in regards to the treatment of sleep apnea.

The Details: Lilly released data on Friday from its SURMOUNT-OSA phase 3 clinical trial which tested tirzepatide as a treatment for obstructive sleep apnea. This could present a potential competitive headwind for ResMed, which develops flow generators, masks and accessories for the treatment of sleep apnea.

The trial evaluated the treatment at two dosage levels, 10 mg and 15 mg.

Tirzepatide achieved all primary and secondary endpoints related to efficacy and treatment regimen. In the primary endpoint, the treatment reduced sleep apnea severity by up to 62.8%.

In a secondary endpoint which contained two studies, tirzepatide at the highest dosage level met the standards for disease resolution. In the first study, 43% of participants met this criteria and in the second study 51.5% met the criteria.

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RMD Price Action: ResMed shares are trading 11.1% lower at $183.01 at the time of writing, according to data from Benzinga Pro.

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