While the drug proved successful in lowering lipoprotein(a) levels, the clinical failure prompted a sharp sell-off in both companies' shares. Novartis stock dropped 4.4% to $153.00 in after-hours trading, while Ionis shares fell 6.1% to $54.54.
In section Market Quotes
Novartis Heart Drug Pelacarsen Fails Late-Stage Clinical Trial
Novartis confirmed on Friday that its experimental heart disease drug, pelacarsen, failed to meet the primary endpoint in a critical Phase 3 study. The treatment, originally licensed from Ionis Pharmaceuticals, did not achieve a statistically significant reduction in cardiovascular events, including heart attacks, strokes, and deaths, when measured against a placebo.
Chief Medical Officer Shreeram Aradhye acknowledged the setback, noting the results fell short of expectations. Despite the outcome, the company maintains the data offers insights into the link between Lp(a) levels and cardiovascular health that may guide future research. Novartis originally secured development and commercialization rights for the drug through an agreement with Ionis in 2019.
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