Swiss Novartis shares fall about 10% after trial failure
Shares in Swiss pharmaceutical company Novartis fell about 10% on Tuesday, September 8, after the company reported that its drug del-desiran failed in a late-stage clinical trial.
Trial results
Del-desiran is intended to treat a disorder associated with muscle mass loss. Novartis said the drug did not succeed in the late-stage study.
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Investor reaction
As CNBC Top News reported, the market reaction to the study results marked the third setback in Novartis drug trials in a week reported by the outlet.
CNBC published the article at 3:51 a.m. U.S. Eastern Daylight Time and marked it as being updated. The quote block listed a price of 112.86 Swiss francs as of 9:46 a.m. Central European Time. The publication refers to Novartis AG, and the market data are provided in Swiss francs.
