Ionis Pharmaceuticals is trading 4% down at $45.36 after investors continued reassessing partner Novartis’ September 4 announcement that pelacarsen’s Phase 3 Lp(a)HORIZON study missed its cardiovascular endpoint.
- The failure undermined cardiovascular-drug expectations and pressured Ionis shares; at the September 16 Morgan Stanley conference, management discussed cardiovascular setbacks, including negative eplontersen results.
- Six analysts recently lowered earnings estimates. Ionis’ company-specific decline extended across eight consecutive sessions, contrasting with gains in the S&P 500 and Nasdaq.