Novartis Stock Crashes as Del-Desiran Trial Ends in Disappointment

Novartis stock plummeted over 12% on Tuesday to around $112.56, marking its worst performance since March 2020.

The decline was largely due to the failure of del-desiran, a candidate treatment for myotonic dystrophy type 1, in the Phase III HARBOR trial.

The trial showed no statistically significant improvement in video hand opening time compared to a placebo group, failing to meet its primary endpoint.

This is not an isolated incident - Novartis has faced three clinical trial disappointments within a seven-day period, including the failure of pelacarsen and the suspension of a rap-cel trial following three patient fatalities.