Akash Tewari has given his Buy rating due to a combination of factors surrounding Eli Lilly & Co's strategic developments and market positioning. The company's management expressed optimism about the EMBER-3 trial data, which almost reached the top decile of their expectations, indicating strong potential in their oncology pipeline. Despite historical caution towards this class of drugs, Lilly's ability to interpret early trial signals and the lack of surprise with performance in specific patient groups suggests a robust understanding and management of clinical trial outcomes. Furthermore, Lilly's regulatory strategy appears well-aligned with FDA expectations, particularly in the context of the imlu mono therapy's potential approval for ESR1 mutations. The flexibility in trial design and the FDA's willingness to consider subgroup analyses enhance the company's chances of successful regulatory outcomes.