Eli Lilly Expands Oncology Imaging Footprint With New Phase 1 PET Tracer Study

Eli Lilly And Company (LLY) announced an update on their ongoing clinical study.

Eli Lilly’s new Phase 1 imaging study, officially titled “A Phase 1, Open-Label Study to Evaluate the Safety, Biodistribution, Imaging Characteristics, and Radiation Dosimetry of [18F]LY4214835 in Healthy Volunteers and Participants With Cancer,” aims to test a novel PET imaging drug in both healthy adults and people with cancer. The goal is to check basic safety, where the drug goes in the body, how it looks on scans, and how much radiation exposure it delivers, which matters for future cancer diagnosis and treatment planning tools.

The study is testing a single experimental product, [18F]LY4214835, given as an intravenous (IV) injection. This is a radioactive tracer designed to help doctors see cancer-related signals more clearly on imaging scans. It is not a treatment for cancer itself, but a potential tool to detect or monitor disease more accurately.

The trial is an interventional Phase 1 study with one group only and no random assignment. Everyone in the study receives the same IV tracer. It is open-label, so both researchers and participants know what is being given. The main goal is basic science: collecting early safety data and imaging information rather than proving clinical benefit or comparing against another product.

The study first appeared on the registry on 21 November 2025, marking the formal start of public disclosure and the early recruitment phase. The study is currently listed as “recruiting,” indicating that enrollment is underway. The latest update was filed on 20 January 2026, signaling that the design and status have been recently reviewed and confirmed by the sponsor; primary and final completion dates have not yet been posted, which is typical at this early stage.

For investors, the update signals Eli Lilly’s continued push into oncology imaging, a space that can support both internal cancer pipelines and external partnerships. While Phase 1 imaging work is unlikely to move LLY’s stock in the short term, it strengthens the company’s diagnostics ecosystem and may enhance the value of future oncology drugs if the tracer helps select the right patients or track response. Competitors in nuclear medicine and oncology imaging, such as GE HealthCare and smaller radiopharma players, underline a broader industry trend toward precision imaging. This study is another data point that Lilly is positioning to participate in that growth, which long term can support sentiment around its oncology and diagnostics strategy.

The study is currently ongoing and recently updated, with further details available on the ClinicalTrials portal.

To learn more about LLY’s potential, visit the Eli Lilly And Company drug pipeline page.