ABBVIE

AbbVie's stock dropped 13% after emraclidine, a schizophrenia drug from its $8.7 billion Cerevel Therapeutics acquisition, failed in phase 2 trials. The failure benefits Bristol-Myers Squibb, whose Cobenfy received FDA approval in September, and Neurocrine Biosciences, which had a successful phase 2 trial for its M4 agonist.

AbbVie's emraclidine, from the $9 billion Cerevel acquisition, failed in two Phase II trials for schizophrenia, causing a 12% share drop. Despite high placebo response, the drug showed no significant symptom improvement. Analysts are now questioning AbbVie's neuroscience strategy and growth outlook.

AbbVie disappointed with emraclidine trial results for schizophrenia, shares down 12.4%. Bristol Myers Squibb shares surged 12.5% after FDA approval of Cobenfy, a new schizophrenia drug.

Updated Nov 11, 2024, 10:47 am EST / Original Nov 11, 2024, 9:25 am EST

William Farrington, with a background in journalism and media, covers diverse topics for Proactive Investors. The publisher delivers global finance news, focusing on medium and small-cap markets, biotech, mining, and emerging tech. Proactive employs technology to enhance content creation, ensuring human authorship and best practices.

AbbVie's phase 2 EMPOWER trials of emraclidine for schizophrenia did not meet primary endpoint of PANSS improvement. Emraclidine was well-tolerated with a safety profile similar to phase 1b trial. AbbVie remains committed to psychiatric and neurological disorder treatments.

Bristol Myers Squibb's stock surged after AbbVie's experimental schizophrenia treatment, emraclidine, failed in Phase 2 studies, boosting Bristol's new treatment, Cobenfy, which gained FDA approval in September.

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AbbVie's experimental schizophrenia treatment, emraclidine, failed to significantly improve patient outcomes in Phase 2 trials, disappointing results following the company's $9 billion acquisition of Cerevel Therapeutics.

AbbVie's phase 2 trials for schizophrenia treatment, emraclidine, missed primary endpoint, causing share decline. Despite disappointment, AbbVie continues data analysis and remains committed to psychiatric and neurological disorder treatments.