AbbVie Shares Plummet After Schizophrenia Drug Trial Setback
TL;DR Summary
Bristol Myers Squibb's stock surged over 14% following the failure of AbbVie's experimental schizophrenia drug, emraclidine, in midstage trials. This development strengthens the market position of Bristol Myers' newly approved schizophrenia treatment, Cobenfy, which was acquired through the $14 billion purchase of Karuna Therapeutics. AbbVie's drug did not show significant improvement in symptoms compared to a placebo, leading to a significant drop in AbbVie's stock.
- Bristol Myers Rockets 12% On AbbVie's Schizophrenia Failure Investor's Business Daily
- AbbVie Stock Falls on Schizophrenia Drug Study Failure The Wall Street Journal
- AbbVie’s emraclidine did not meet endpoint in Phase 2 schizophrenia trials TipRanks
- AbbVie Tumbles After New Schizophrenia Drug Fails in Two Trials Bloomberg
- Schizophrenia drug AbbVie picked up in $9 billion acquisition fails in key trials STAT
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