BioSpace· Tristan Manalac·· 7 hours agoPickScore66
Novartis faces $1.9B hit from Avidity fail but maintains confidence in $12B buy
In brief
Del-desiran failed to significantly improve hand function in the Phase 3 HARBOR trial and missed its primary endpoint, and Novartis took a $1.9B impairment charge on its $12B acquisition of Avidity. HARBOR randomized 159 patients with myotonic dystrophy type 1; del-desiran showed clinical activity in secondary and exploratory endpoints, and Novartis plans an additional pivotal study.
Why it matters
HARBOR's primary endpoint miss, the $1.9B impairment and the added pivotal study show how late-stage results affect acquired-asset valuations.
Source: BioSpace · biospace.com