Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

AbbVie shares slip after schizophrenia drug trial misses primary endpoint

Source Investing

Investing.com - AbbVie (NYSE:ABBV) has announced that its two phase 2 trials of a treatment for adults with schizophrenia missed its primary endpoint, sending shares in the drugmaker down sharply in premarket US trading.

In a statement, Illinois-based AbbVie said the studies did not show a statistically significant improvement in patients using the medicine, emraclidine, as a once-daily oral monotherapy.

"While we are disappointed with the results, we are continuing to analyze the data to determine next steps," said AbbVie Chief Scientific Officer Roopal Thakkar in a statement.

"We are confident that our innovative pipeline will continue to bring meaningful therapies to patients, and we remain committed to finding better treatments for people living with psychiatric and neurological disorders."

AbbVie currently has approval for its antipsychotic drug Vraylar. It has been pushing to roll out newer medicines for the disease since an $8.7 billion takeover of Cerevel Therapeutics last year.

In October, AbbVie lifted his full-year income forecast, saying its was seeing "momentum" in its operations after third-quarter net revenue topped estimates. The company now expects adjusted profit per share to be between $10.90 to $10.94 in its current fiscal year, up from a prior estimate of $10.67 to $10.87.

In a statement at the time, Chief Executive Robert Michael said the firm has been bolstered by "significant pipeline progress," leading it to have "confidence in the long-term growth outlook." AbbVie has been focusing on building out its pipeline of medications since its blockbuster arthritis drug Humira lost patent protection last year.

Following the announcement on Monday, shares in rival Bristol-Myers Squibb (NYSE:BMY) rose. The US Food and Drug Administration recently approved the group's schizophrenia drug, Cobenfy. Bristol Myers obtained the drug, which is also known as KarXT, through a $14 billion purchase of Karuna Therapeutics in 2023.

(Reuters contributed reporting.)

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 10, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 10, 2026. Read on for the details.

Author Mitrade

Nov 10, Tue

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 10, 2026. Read on for the details.

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 11, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 11, 2026. Read on for the details.

Author Mitrade

Nov 11, Wed

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 11, 2026. Read on for the details.

Nvidia slid 7.7% after hours while AMD and Broadcom rose — the AI trade changed hands, it didn't break Nvidia closed Wednesday at 173.73, up 2.87%, then fell as much as 8.1% to 159.44 after reports that its board was preparing for a possible leadership change. The same session, the Philadelphia Semiconductor Index rose 5.7% with all 30 components higher, CoreWeave jumped 24.7% on 168% revenue growth, and Micron added 11.9%. If AI demand were being repriced, AMD and Broadcom would not be bid. This is a governance discount on one name, and 204.54 — the 200-day average — is the level that settles it.

Author Irene Q.

Nov 12, Thu

Nvidia closed Wednesday at 173.73, up 2.87%, then fell as much as 8.1% to 159.44 after reports that its board was preparing for a possible leadership change. The same session, the Philadelphia Semiconductor Index rose 5.7% with all 30 components higher, CoreWeave jumped 24.7% on 168% revenue growth, and Micron added 11.9%. If AI demand were being repriced, AMD and Broadcom would not be bid. This is a governance discount on one name, and 204.54 — the 200-day average — is the level that settles it.

Gold hit a one-year low while central banks bought 321 tonnes — the sellers were never the ones you think Spot gold closed at 3,876 on Thursday, down 2.8% and its lowest close in more than a year, with an intraday low near 3,852. The dollar is at a 19-month high of 103.21 and the 10-year yield is at 5.10%, so the price move is easy to explain. What is harder to explain is who sold: central banks bought 321 tonnes in Q3, the PBoC added for a 24th straight month, ETF holdings are near a record 4,256 tonnes, and roughly 95% of the futures selling came from non-reportable and sovereign-type accounts rather than hedge funds. This piece separates the two books that have to balance.

Author Irene Q.

Nov 13, Fri

Spot gold closed at 3,876 on Thursday, down 2.8% and its lowest close in more than a year, with an intraday low near 3,852. The dollar is at a 19-month high of 103.21 and the 10-year yield is at 5.10%, so the price move is easy to explain. What is harder to explain is who sold: central banks bought 321 tonnes in Q3, the PBoC added for a 24th straight month, ETF holdings are near a record 4,256 tonnes, and roughly 95% of the futures selling came from non-reportable and sovereign-type accounts rather than hedge funds. This piece separates the two books that have to balance.

Brent rose 3.3% and US crude stocks built 4.66 million barrels in the same week Brent January settled at 95.82, up 3.3%, and WTI at 88.74, up 2.55%, after the US signalled it would not pursue a deal with Iran and attacks on Gulf shipping continued. In the same week, EIA data showed US crude inventories rising 4.657 million barrels against expectations of a 1.1 million draw, with gasoline up another 1.799 million. OPEC output also rebounded 1.96 million barrels a day to 27.16 million in October, led by Saudi Arabia at 10.56 million. This piece separates the geopolitical premium from the physical balance and lays out where each side of the trade is anchored.

Author Irene Q.

Nov 13, Fri

Brent January settled at 95.82, up 3.3%, and WTI at 88.74, up 2.55%, after the US signalled it would not pursue a deal with Iran and attacks on Gulf shipping continued. In the same week, EIA data showed US crude inventories rising 4.657 million barrels against expectations of a 1.1 million draw, with gasoline up another 1.799 million. OPEC output also rebounded 1.96 million barrels a day to 27.16 million in October, led by Saudi Arabia at 10.56 million. This piece separates the geopolitical premium from the physical balance and lays out where each side of the trade is anchored.

Popular Symbols