Novartis' Investigational Therapy Shows Promising Action In Rare Kidney Disease
Portfolio Pulse from Vandana Singh
Novartis AG has announced positive interim results from the Phase 3 APPLAUSE-IgAN study of iptacopan, a therapy for IgA nephropathy (IgAN), a rare kidney disease. The study showed iptacopan's superiority over placebo in reducing proteinuria. The safety profile was consistent with previous data. The study continues to evaluate iptacopan’s ability to slow IgAN progression. Novartis plans to submit for possible accelerated approval with the FDA in 2024. Novartis shares are down 0.30% at $101.55 during the premarket session.
October 02, 2023 | 12:59 pm
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NEUTRAL IMPACT
Novartis' iptacopan shows promising results in Phase 3 study for IgA nephropathy. The company plans to submit for FDA accelerated approval in 2024. However, Novartis shares are down 0.30% in premarket.
The positive results from the Phase 3 study of iptacopan are a good sign for Novartis, indicating potential future revenue from the therapy if it receives FDA approval. However, the slight drop in Novartis' share price suggests that the market has not yet fully reacted to this news. The impact on the stock price may become more apparent as the company moves closer to submitting for FDA approval in 2024.
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