Eli Lilly said its new weight-loss pill had cleared a late-stage clinical trial, a promising sign as the company continues to face off with Ozempic maker Novo Nordisk. Eli Lilly said in a news release that its orforglipron pill had passed a Phase 3 trial with “statistically significant efficacy results” and a safety profile consistent with injectable obesity drugs that already are on the market.

Novo Nordisk, the Danish maker of Ozempic and Wegovy, announced Tuesday that it has asked the Food and Drug Administration to approve an oral version of its anti-obesity medication, moving ahead in the race between drugmakers to offer a weight loss pill.

Shares of Eli Lilly soared Thursday morning after the pharmaceutical giant announced a clinical trial of its once-daily weight loss pill, orforglipron, demonstrated effectiveness consistent with other injectable GLP-1 weight loss drugs, such as Lilly’s Mounjaro and Novo Nordisk’s Ozempic.