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Why Ionis Pharma Stock Falling In Pre-market?

Pfizer Inc. (PFE) and Ionis Pharmaceuticals, Inc. (IONS) announced the discontinuation of the Pfizer-led clinical development program for vupanorsen, an investigational antisense therapy. Also, Pfizer will return development rights to vupanorsen to Ionis.

Pfizer made the decision after a review of data from the phase 2b double-blind, placebo-controlled, dose-ranging, 8-arm parallel-group study of vupanorsen in statin-treated participants with dyslipidemia. The company said the the magnitude of non-high density lipoprotein cholesterol and triglycerides reduction observed did not support continuation of the clinical development program for cardiovascular risk reduction or severe hypertriglyceridemia.

Shares of Ionis Pharmaceuticals were down 8% in pre-market trade on Monday.

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