On Monday, AbbVie Inc (NYSE:ABBV) stock plunged after two trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia failed two Phase 2 trials. The studies did not meet their primary endpoint of showing a statistically significant improvement in the change from baseline in the Positive and Negative Syndrome Scale (PANSS) total score compared to the placebo group at week 6.

AbbVie’s stock price fell over 12% after emraclidine ... “We are confident that our innovative pipeline will continue to bring meaningful therapies to patients, and we remain committed to finding better treatments for people living with psychiatric ...

AbbVie Inc.’s disappointing trial results for its new schizophrenia drug bode well for rival Bristol Myers Squibb Co., analysts said. On Monday AbbVie ABBV said that its Phase 2 trial investigating emraclidine as a once-daily oral monotherapy treatment for adults with schizophrenia did not meet the primary endpoint of showing a “statistically significant” improvement when compared with a placebo group.

On Monday, AbbVie Inc (NYSE:ABBV) stock plunged after two trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia failed two Phase 2 trials. The studies did not meet their primary endpoint of showing a statistically significant improvement in the change from baseline in the Positive and Negative Syndrome Scale (PANSS) total score compared to the placebo group at week 6.

AbbVie’s ABBV mid-stage studies of emraclidine for schizophrenia failed to meet their primary endpoint. Shares of the company lost 12.6% on Monday in response to the disappointing news. However, Bristol Myers’ BMY stock was up 10.