Novartis Shares Fall 13% Premarket After Third Trial Setback in a Week
Novartis shares dropped more than 13% in U. S. premarket trading after the company suffered its third clinical trial setback within a week. The repeated failures have raised concerns about the drugmaker's pipeline momentum, though the company has not yet issued a detailed statement on the latest trial outcome.
Novartis shares fell more than 13% in U. S. premarket trading on Wednesday, extending a sharp decline after the Swiss drugmaker disclosed its third clinical trial setback in the span of a week.
The latest disappointment adds to a series of setbacks that have weighed on investor sentiment, though the company has not yet detailed the specific trial or the implications for its broader pipeline. The repeated failures underscore the challenges facing Novartis as it seeks to advance new therapies through late-stage development.
The stock's premarket slide reflects growing caution among investors, who are now reassessing the company's near-term growth prospects amid the string of clinical disappointments.