🔴 Ionis Pharmaceuticals is trading 4.2% down today after pelacarsen Phase 3 study misses primary cardiovascular endpoint

Ionis Pharmaceuticals is trading 4.2% down now at $51.96 as investors continue reassessing partner Novartis’ September 4 announcement that pelacarsen’s Phase 3 Lp(a)HORIZON study missed its primary cardiovascular endpoint.

• The trial setback has overshadowed Ionis Pharmaceuticals’ recent ZANVASTRO FDA approval and appears to be driving continued weakness.
• Broader markets are only modestly lower, making company-specific pharmaceutical news the clearest explanation for the move.
• No new September 14 company announcement was identified.