Novartis's Pelacarsen Falls Short in Late-Stage Trial
Novartis's shares plummeted after-hours on Friday, falling as much as 7% in extended trading. The company announced that its late-stage trial of pelacarsen failed to reduce the risk of cardiovascular events. Pelacarsen was designed to lower lipoprotein(a), or Lp(a), a genetically driven blood fat linked to heart disease.
The study, known as the Lp(a)HORIZON trial, involved 8,323 patients with pre-existing cardiovascular disease and high levels of Lp(a). While pelacarsen successfully lowered Lp(a) levels, it did not demonstrate a significant reduction in cardiovascular risk. This outcome was disappointing for Novartis, which had high hopes for pelacarsen as a potential blockbuster.
Novartis's chief medical officer, Shreeram Aradhye, acknowledged the trial's failure, stating 'These are not the results we hoped for.' He added that the data could still provide valuable insights into the relationship between Lp(a) reduction and cardiovascular risk. Novartis will present the full results at a future medical meeting.
The news also affected Ionis Pharmaceuticals, which developed pelacarsen and licensed it to Novartis. The company's shares fell around 10% in after-hours trading. Amgen, another player in this space with its own late-stage trial of olpasiran, saw its stock slip 5%.