AbbVie (ABBV) has announced that its investigational drug, emraclidine, failed to meet the primary endpoints in two Phase 2 clinical trials for the treatment of schizophrenia. The trials did not demonstrate a statistically significant improvement in symptoms compared to the placebo group at week 6.
The news led to a sharp decline in AbbVie's stock price, with shares recently down 12%. In contrast, Bristol Myers Squibb (BMY), which recently gained approval for its schizophrenia treatment Cobenfy, saw its shares soar 12%.
"While we are disappointed with the results, we are continuing to analyze the data to determine next steps," said Dr. Roopal Thakkar, AbbVie's Chief Scientific Officer. The company is now evaluating the full dataset to understand the reasons behind the trial's failure and to inform future development decisions regarding emraclidine.
Emraclidine is an investigational agent being developed by AbbVie as a potential new treatment option for schizophrenia. Schizophrenia is a chronic and severe mental disorder affecting millions worldwide. Current treatments often have limitations, highlighting the need for novel therapeutic approaches. The failure of emraclidine to meet its primary endpoints represents a setback in the search for improved schizophrenia treatments.
