Novartis shares tumbled Tuesday after the Swiss drugmaker said its experimental therapy for a muscle-wasting disorder failed in a late-stage trial — the company’s third clinical setback in just eight days.
The stock was last seen down 9.4%, putting it on track for its worst trading day on record, according to CNBC. The move comes as investors digest a string of disappointments that have raised fresh questions about Novartis’s pipeline execution.
Third blow in a week
Just days ago, Novartis said its pelacarsen drug failed to reduce the risk of cardiovascular events in a late-stage study. A week earlier, the company announced it had paused eight clinical trials of an experimental cell therapy, known as rap-cel, after three patients died.
The latest setback centers on del-desiran, a therapy being tested for myotonic dystrophy type 1, a rare genetic condition that causes progressive muscle wasting and weakness. Novartis said the global Phase III HARBOR study did not show a statistically significant improvement versus placebo on measurements of hand opening time — a key functional endpoint for the disease.
Company vows to review data
In a news release, Novartis said it is “evaluating the full HARBOR dataset” and will engage with health authorities to determine the most appropriate development path for del-desiran.
“Developing therapies for a complex disease like [myotonic dystrophy type 1] remains challenging, and setbacks are part of scientific progress,” said Shreeram Aradhye, president of development and chief medical officer at Novartis, in a statement Tuesday. He reiterated the company’s commitment to finding a path forward for the program and to advancing treatments for other serious neuromuscular diseases.
The failure is especially notable because del-desiran was one of three antibody oligonucleotide conjugate therapies that came to Novartis through its roughly $12 billion acquisition of Avidity Biosciences last year. That deal was meant to bolster the company’s neuromuscular pipeline, and the setback could raise concerns about the value of that acquisition.
CNBC reached out to Novartis for additional comment but did not immediately receive a response.
With three high-profile trial disappointments in a single week, investors are now looking to management for clarity on how the company plans to adjust its research priorities and whether further pipeline cuts may follow.
Source: www.cnbc.com — https://www.cnbc.com/2026/09/08/novartis-novn-del-desiran-drug-trial.html
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