** The US FDA's FAERS database shows one reported case of liver failure linked to Eli Lilly's LLY.N newly approved oral GLP-1 drug, Foundayo

** However, LLY spokesperson tells Reuters that the case was "not reasonably related to Foundayo"

** LLY shares initially fell as much as 3% in premarket trading following an Evercore ISI note about the case, but pared most of the losses in market hours

** Evercore ISI said the patient was a 56-year-old male who experienced liver failure, and warned against looking "at this single liver case in a silo"

** "Such cases do tend to occur on other GLPs as well because of various confounding factors" - Evercore ISI

** Analysts across Wall Street call the liver safety concerns an "overreaction"

** Foundayo's latest FAERS drama stirs the pot but is likely sensationalism at best - Citi analysts

** RBC analysts note Mounjaro and Ozempic each having 30+ hepatic failure cases in FAERS, making this look like "baseline noise, not a mechanistic safety signal"

** Without full patient history, one can not assign this event to Foundayo - Deutsche Bank analysts

** Lilly shares marginally down at $962.70 in late morning trading