The translation of the heading to English is: "Major Setback for AbbVie on the Stock Market – Hopeful Prospect Disappoints.
- The schizophrenia medication Emraclidine by AbbVie failed to meet its primary endpoint in a Phase 2 study.
- AbbVie plans to continue the data analysis despite the shares falling by 12%.
Eulerpool News·
An unfortunate announcement from AbbVie's research labs caused a sobering effect on the capital market. The pharmaceutical company's hopes for a new treatment for schizophrenia were dashed by disappointing test results. As a result, this led to a significant decline in stock values, which fell by 12% by late afternoon.
Shortly before trading began on Monday, AbbVie announced that the schizophrenia drug Emraclidine had not achieved its primary study goal in a Phase 2 trial. There was no statistically significant reduction in symptoms on the Positive and Negative Syndrome Scale (PANSS) compared to a placebo.
Despite these disappointing results, the company announced plans to further analyze the study data to determine future steps for Emraclidine. Often, such an outcome signals the end of a drug's development. However, Roopal Thakkar, AbbVie's Chief Scientific Officer, emphasized that the company remains committed to finding better treatments for mental and neurological disorders.
Interestingly, it was only in August that AbbVie completed an acquisition of Cerevel Therapeutics, the developer of Emraclidine, for $8.7 billion. The schizophrenia treatment was one of the primary reasons for the purchase. However, it was not the only promising project from Cerevel. Through the acquisition, AbbVie also gained other development programs, including the promising Parkinson's drug Tavapadon, which recently showed positive results in late-stage clinical trials.
These developments highlight the risks and opportunities in the pharmaceutical market during times of high research intensity and innovation pressure. Modern Financial Markets Data
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