AbbVie's Emraclidine For Schizophrenia 'Surprisingly Disappoints,' Analyst Says Pipeline Is Underappreciated

Group 1 - AbbVie Inc's stock fell 11.7% to $176.16 after two Phase 2 trials for emraclidine, a treatment for schizophrenia, failed to meet primary endpoints [1][4] - The trials did not show a statistically significant improvement in the Positive and Negative Syndrome Scale (PANSS) total score compared to the placebo group at week 6 [1] - Cantor Fitzgerald noted that Wall Street had anticipated positive results, but the details were expected to be mixed [2] Group 2 - The disappointing trial results for AbbVie may benefit Bristol Myers Squibb's approved schizophrenia drug, Cobenfy, and raise questions about selective muscarinic targeting for schizophrenia treatment [3] - Cantor Fitzgerald maintains an Overweight rating on AbbVie with a price target of $240 despite the negative trial results [3] - AbbVie's acquisition of Cerevel still holds promise with ongoing treatments like Darigabat for epilepsy and anxiety, and Tavapadon for Parkinson's [4]