In a Phase 3 trial, drugmaker Eli Lilly and Company said it's oral GLP-1 pill showed similar results to injectable weight loss options after a 72-week period.

When Eli Lilly reports its financial results early Thursday, investors will be looking for the company to press its advantage in the booming weight-loss drug market. Competitor Novo Nordisk has fallen behind Lilly, as Lilly’s weight-loss shot Zepbound has seized a commanding majority of U.S. obesity prescriptions over Novo’s Wegovy.

Eli Lilly stock beats Q2 estimates with strong sales but faces competitive risks and high valuation. Here's why investors may simply want to hold for now.