Ionis, Pfizer scrap plans for experimental cardiovascular drug

Shares of Ionis Pharmaceuticals Inc. /zigman2/quotes/201272020/composite IONS +5.57% fell 7.9% in premarket trading on Monday after the company and Pfizer Inc. /zigman2/quotes/202877789/composite PFE -1.18% said they discontinued a program testing an experimental treatment for cardiovascular risk reduction and severe hypertriglyceridemia. The companies said that although the drug, vupanorsen, met the primary endpoint in a Phase 2b study, there was concern about its viability as a treatment for those indications. Pfizer had licensed the drug from Ionis in 2019; those rights have now been returned to the company. Over the past year, Pfizer's stock has soared 51.3%, and shares of Ionis have tumbled 47.2%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% is up 18.7%.

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Ionis Pharmaceuticals Inc.

US : U.S.: Nasdaq

$ 45.70

+2.41 +5.57%

Volume: 1.51M

Aug. 5, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$6.48 billion

Rev. per Employee

$1.27M

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Pfizer Inc.

US : U.S.: NYSE

$ 49.27

-0.59 -1.18%

Volume: 16.38M

Aug. 5, 2022 4:04p

P/E Ratio

11.31

Dividend Yield

3.25%

Market Cap

$276.45 billion

Rev. per Employee

$1.17M

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S&P 500 Index

US : S&P US

4,145.19

-6.75 -0.16%

Volume: 2.22B

Aug. 5, 2022 5:04p