Investors have been on the lookout for data from Novartis' three experimental drugs - pelacarsen, multiple sclerosis drug remibrutinib and genetic therapy del-desiran - which together represent more than $10 billion in potential peak annual sales and are seen as drivers of the Swiss drugmaker's long-term growth.
Ionis discovered and conducted the early development of pelacarsen. In 2019, Novartis exercised an option to license the rights to develop and commercialize pelacarsen for cardiovascular therapy.
The companies said full trial data will be presented at an upcoming medical congress.
Late-stage trial misses main goal
Sept. 4 (Reuters) - Ionis Pharmaceuticals and partner Novartis' experimental drug to lower high levels of a cholesterol-carrying particle in heart patients failed in a late-stage trial, the companies said on Friday, sending Ionis' shares down 12% in aftermarket trading.
The drug, pelacarsen, did not meet the main goal of reducing the risk of events such as death from heart disease, heart attack, stroke, or needing an urgent procedure to restore blood flow to the heart, when compared with placebo.
Context for other Lp(a) drugs in development
There are currently no approved treatments specifically designed to lower lipoprotein(a). Other experimental Lp(a)-lowering drugs in development include Amgen's olpasiran and Eli Lilly's lepodisiran, both of which are in late-stage development.
Amgen shares fell 5% in aftermarket trading after the trial results. Last month J.P. Morgan analysts noted that a trial win for pelacarsen would have a positive read through for Amgen's olpasiran.
Drug lowered Lp(a) but did not cut cardiovascular risk
Consistent with previous studies, pelacarsen lowered levels of the cholesterol-carrying particle lipoprotein(a) in patients, the companies said.
Lipoprotein(a) is a type of lipid, or fat, in the body that contains and is similar in structure to low-density lipoprotein (LDL) cholesterol, often thought of as "bad cholesterol." Increased Lp(a) levels have been linked to a higher risk for cardiovascular disease.
"Although pelacarsen substantially lowered lipoprotein(a) levels consistent with previous studies, we are disappointed that this did not translate to cardiovascular risk reduction," said Ionis CEO Brett Monia.
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