AbbVie Stock Sinks After Schizophrenia Drug Trials Disappoint

Group 1 - AbbVie shares fell 12% after the company announced that its schizophrenia drug Emraclidine missed key goals in two Phase 2 clinical trials [1][2][3] - The trials did not demonstrate a statistically significant improvement in symptoms compared to the placebo group at week 6 [2] - AbbVie is continuing to analyze the data to determine next steps following the disappointing results [2] Group 2 - Shares of Bristol Myers Squibb, which produces the recently approved schizophrenia treatment Cobenfy, increased by 12% [1][3] - Year-to-date, AbbVie shares are up approximately 13%, while Bristol Myers Squibb shares have risen by 18% [3]