While the drug successfully reduced levels of lipoprotein(a), it did not translate that biological change into improved clinical outcomes for patients. Chief Medical Officer Shreeram Aradhye acknowledged the disappointing data, noting the company would use the findings to refine future approaches to cardiovascular risk management.

Novartis acquired the licensing rights for pelacarsen from Ionis Pharmaceuticals in 2019. Following the announcement on Friday, Novartis stock fell 4.4% to $153.00 in after-hours trading, while Ionis shares remained unchanged.