Novartis (NVS) Stock Craters 12% After Three Drug Failures in One Week
TLDR
- Novartis fell over 12% on Tuesday, on track for its worst trading day since March 2020.
- Its del-desiran drug failed the Phase III HARBOR trial for myotonic dystrophy type 1, missing the primary endpoint.
- This marks the third drug trial setback for Novartis in a week, following the pelacarsen failure and a pause on rap-cel trials after three patient deaths.
- Jefferies analyst Michael Leuchten kept a “hold” rating and warned the company’s growth targets now look hard to hit without further M&A.
- Novartis maintained its 2025-2030 sales growth guidance of 5-6% CAGR.
Novartis took a heavy hit on Tuesday after its del-desiran drug failed a late-stage clinical trial, sending the stock down more than 12% to around $112.56, its lowest level since early January.
The drug, formally known as delpacibart etedesiran, missed the primary endpoint in the Phase III HARBOR study for myotonic dystrophy type 1 (DM1), a progressive neuromuscular disease with no currently approved treatments. The trial, which ran 54 weeks across 150 patients, failed to show a statistically meaningful improvement in video hand opening time compared to placebo.
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