See Why Molecular Partners Shares Dropped To 52-Week Low During Tuesday Premarket? - Molecular Partners (NASDAQ:MOLN), Novartis (NYSE:NVS)

Molecular Partners AG MOLN has announced that a planned futility analysis of ensovibep in the Phase 3 ACTIV-3 study has not met the thresholds required to continue enrollment of hospitalized adults with COVID-19.
The independent Data and Safety Monitoring Board (DSMB) recommends discontinuing recruitment in the ensovibep arm of the ACTIV-3 study conducted by the National Institutes of Health (NIH).
ACTIV is evaluating multiple therapies for COVID-19.
At the time of the analysis, 470 patients had been randomized in the ensovibep arm of the study.
Ensovibep was observed to be generally safe and well-tolerated with reported side effects consistent with the standard of care.
Molecular Partners and Novartis AG NVS are collaborating on developing ensovibep to assess ensovibep's ability to rapidly reduce viral load and prevent worsening symptoms of hospitalized COVID-19 patients.
Novartis is conducting an EMPATHY Phase 2/3 trial with Molecular Partners as a sponsor, with topline interim data for the first 400 patients expected in early 2022.
Related content: Benzinga's Full FDA Calendar.
Price Action: MOLN shares are down 36.3% at $9.42 during the premarket session on the last check Tuesday.