The company’s stock was last seen down by 10%, as investors reacted to what was its third drug trial setback in a week. It put the shares on track for their worst trading day ever. <\/p>\n
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Novartis said its global phase III HARBOR study, which had been testing del-desiran in patients with myotonic dystrophy type 1, “did not demonstrate statistically significant improvement versus placebo” on measurements of hand opening time. <\/p>\n
Novartis said its global phase III HARBOR study, which had been testing del-desiran in patients with myotonic dystrophy type 1, failed to show that the drug significantly improved patients’ ability to open their hands faster than a placebo.<\/p>\n
“Novartis is evaluating the full HARBOR dataset and will engage with health authorities to determine the most appropriate development path for del-desiran,” the company said in a news release. <\/p>\n
Del-desiran is one of three antibody oligonucleotide conjugate therapies that was added to Novartis’s neuromuscular pipeline when it acquired<\/a> Avidity Biosciences for around $12 billion last year. <\/p>\n “Developing therapies for a complex disease like [myotonic dystrophy type 1] remains challenging, and setbacks are part of scientific progress,” Shreeram Aradhye, president of development and chief medical officer at Novartis, said in a statement Tuesday.<\/p>\n “As we continue to evaluate the full HARBOR dataset, we remain committed to identifying the most appropriate development path for the del-desiran program and advancing innovative approaches for people living with [myotonic dystrophy] and other serious neuromuscular diseases.” <\/p>\n