AbbVie's Leukemia Drug Falls Short In Late-Stage Study In Pretreated Blood Cancer Patients
Portfolio Pulse from Vandana Singh
AbbVie Inc's Phase 3 CANOVA study evaluating venetoclax plus dexamethasone for patients with t(11;14)-positive relapsed or refractory multiple myeloma did not demonstrate significant improvement in progression-free survival. Although patients receiving the treatment showed improvement in median PFS, the results did not reach statistical significance. Following the news, ABBV shares are down 1.81%.
September 29, 2023 | 4:18 pm
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NEGATIVE IMPACT
AbbVie's Phase 3 CANOVA study did not meet its primary endpoint, leading to a 1.81% drop in ABBV shares.
The failure of AbbVie's Phase 3 CANOVA study to meet its primary endpoint is a significant setback for the company. This negative news directly impacts investor confidence, leading to a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100