Novartis abandons Ionis heart drug after late-stage trial setback
FROM THE WIRE · SEEKINGALPHA.COM
[Novartis] TBE/iStock Editorial via Getty Images Novartis (NVS [https://seekingalpha.com/symbol/NVS]) is largely abandoning the development of a heart disease therapy discovered by Ionis Pharmaceuticals (IONS [https://seekingalpha.com/symbol/IONS]) after the RNA-targeting…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishAbandoning a drug in development weighs on Novartis's pipeline and on Ionis's prospects.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Novartis is largely abandoning development of pelacarsen, a drug discovered by Ionis.
- 02The drug failed a late-stage trial in atherosclerotic cardiovascular disease.
- 03A study testing it in calcific aortic valve stenosis will continue.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Novartis AG162.55 USDMarket closedtoday +0.38%Neutral Ionis Pharmaceuticals, Inc.39.42 USDMarket closedtoday +1.60%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets