On September 8, Ionis Pharmaceuticals fell 7.76% in regular trading, trading near $54.40 per share, with turnover of approximately $98.08 million. The decline was driven by news that partner Novartis announced pelacarsen — discovered and initially developed by Ionis — failed to meet the primary endpoint in the Phase 3 LpHORIZON cardiovascular outcomes trial. Despite significantly reducing lipoprotein(a) levels, the drug did not translate that reduction into a meaningful decrease in cardiovascular event risk.

Notably, this marks the second major Phase 3 trial setback for Ionis within two months. In July, eplontersen — co-developed with AstraZeneca for transthyretin-mediated amyloid cardiomyopathy — also failed to meet its primary endpoint in the Cardio-TTtransform trial, which sent shares plunging over 20% at the time. The repeated late-stage clinical failures have significantly eroded investor confidence in the company's cardiovascular pipeline.

Ionis Pharmaceuticals is a commercial-stage biotechnology company with seven marketed drugs and a pipeline spanning neurology and cardiometabolic diseases. The company recently received FDA approval for Zanvastro for Alexander disease and has key partnerships with Biogen, AstraZeneca, and Novartis.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)