Bristol Myers rises, AbbVie sinks after schizophrenia trials miss targets
The Fly

Bristol Myers rises, AbbVie sinks after schizophrenia trials miss targets

Shares of AbbVie (ABBV) are sinking on Monday after the company said two mid-stage trials of its investigative treatment for adults with schizophrenia missed their primary endpoints. AbbVie’s two Phase 2 EMPOWER trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia who are experiencing an acute exacerbation of psychotic symptoms, did not meet their primary endpoint of showing a statistically significant reduction – improvement – in the change from baseline in the Positive and Negative Syndrome Scale total score compared to the placebo group at week 6. Following the disclosure, AbbVie shares have fallen about 12% to $175.85 in Monday morning trading, while those of competitor Bristol Myers (BMY) have gained nearly 11% to $59.90.

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