Ionis Pharmaceuticals falls as partnered Novartis drug fails Phase 3
-2.38% to $56.71 from $58.09
What moved IONS
- Ionis Pharmaceuticals shares declined roughly 11.5% after Novartis announced that the Phase III Lp(a)HORIZON trial of pelacarsen did not meet its primary endpoint.
- Pelacarsen was developed by Novartis in partnership with Ionis, which stood to receive milestone payments and royalties tied to the drug’s success.
- The trial showed pelacarsen lowered Lp(a) levels, but this did not translate into fewer cardiovascular events among patients already on standard lipid- and blood-pressure-lowering therapies.
Sources: Stocktwits · Ionis Pharmaceuticals (investor release) · Novartis (press release)