Eli Lilly shares gained after late-stage Foundayo data showed double-digit weight loss in adults aged 65 and older across obesity trials.

A next-gen Eli Lilly obesity drug led to bariatric-surgery levels of weight loss in a study, but also saw patients dropping out because of side effects.

The results bring Lilly one step closer to filing for approval of the injection, retatrutide, which works differently from existing injections and pills.