Leerink analyst David Risinger notes AbbVie (ABBV) announced on November 11 that emraclidine’s pivotal Phase 2 trials, EMPOWER-1 and EMPOWER-2, did not meet their primary endpoints. The firm argues that this outcome is a clear positive positive for Bristol Myers (BMY) because its recently approved schizophrenia treatment Cobenfy will not face competition from emraclidine. Leerink has a Market Perform rating on AbbVie’s shares.
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