Key Takeaways Shares of AbbVie plummeted Monday after the company said its schizophrenia drug Emraclidine missed key goals in a pair of trials.Abbvie said the trials did not show a statistically significant improvement in symptoms compared with the placebo group at week 6.

"AbbVie’s stock plummets over 12% after schizophrenia drug flops in Phase II trials" was originally created and published by Clinical Trials Arena, a GlobalData owned brand. The information on this site has been included in good faith for general ...

The shocking failure of AbbVie’s emraclidine has investors questioning the Big Pharma’s long-term neuroscience strategy, which put the drug at the center of expectations.

AbbVie Inc.’s disappointing trial results for its new schizophrenia drug bode well for rival Bristol Myers Squibb Co., analysts said. On Monday AbbVie ABBV said that its Phase 2 trial investigating emraclidine as a once-daily oral monotherapy treatment for adults with schizophrenia did not meet the primary endpoint of showing a “statistically significant” improvement when compared with a placebo group.

AbbVie’s ABBV mid-stage studies of emraclidine for schizophrenia failed to meet their primary endpoint. Shares of the company lost 12.6% on Monday in response to the disappointing news. However, Bristol Myers’ BMY stock was up 10.