BRISTOL MYERS SQUIBB

Climb Bio appoints Douglas E. Williams, Ph.D., as Chair of its Board of Directors, succeeding Andrew Levin, who remains a director. Dr. Williams brings over 30 years of biotech leadership experience, including roles at Sana Biotechnology, Codiak BioSciences, and Biogen.

Shares of AbbVie plummeted after its schizophrenia drug Emraclidine missed key goals in Phase 2 trials, while Bristol Myers Squibb's shares soared due to its recently approved schizophrenia treatment Cobenfy.

AbbVie lost $40 billion in market value after its experimental drug emraclidine failed two clinical trials for schizophrenia. Despite the setback, AbbVie remains focused on neuroscience and has a diverse portfolio of brain medicines. The failure of emraclidine removes a competitive threat for Bristol Myers' Cobenfy, an approved antipsychotic.

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.

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.

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.

Acadia Pharmaceuticals sold its rare pediatric disease priority review voucher (PRV) for $150 million, with Neuren Pharmaceuticals set to receive $50 million. PRVs, awarded by the FDA for developing drugs for rare pediatric diseases, can be sold to accelerate drug reviews, highlighting their value in licensing deals.