Shares of Amgen (AMGN) fell by 5% in after-hours trading on Friday following Novartis (NVS) announcing that its phase III Lp(a)HORIZON study of the investigational drug pelacarsen failed to meet its primary endpoint in reducing major adverse cardiovascular events (MACE) for patients with elevated lipoprotein(a) [Lp(a)] and established cardiovascular disease. The study involved 8,323 patients but showed that while pelacarsen significantly lowered Lp(a) levels, it did not translate to a reduced risk of cardiovascular events.
Year to date, Amgen’s shares have increased by 36.3%, outperforming the industry growth of 11.1%. The failure of the Novartis study raises concerns around the broader Lp(a)-lowering field, which includes Amgen’s investigational therapy, olpasiran, currently under evaluation in the phase III OCEAN(a)-Outcomes study. Investors remain cautious about olpasiran’s potential in light of these results as its outcomes data is still pending.
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