RE:Novartis announces 2nd stock buyback planCorrespondingly, Novartis has dumped its secretive, high-risk, high-reward obesity candidate after emerging from a phase 2 trial with lackluster efficacy. The Swiss drugmaker disclosed the termination alongside news that it is stopping development of a phase 3 pancreatic cancer candidate “based on benefit-risk assessment.”
The other high-profile casualty of Novartis’ second quarter clearout is NIS793. Novartis moved the drug candidate, a TGFB inhibitor also known as niseovkitug, into a phase 3 trial as a treatment for first-line metastatic pancreatic ductal adenocarcinoma (mPDAC) in 2021.
- NIS793 is an antibody specific for Transforming Growth Factor Beta (TGFβ), in metastatic pancreatic ductal carcinoma (mPDAC) and other solid tumors.
https://www.novartis.com/sites/novartis_com/files/q2-2023-media-release-en.pdf
https://www.novartis.com/news/novartis-receives-fda-orphan-drug-designation-nis793-pancreatic-cancer
https://www.fiercebiotech.com/biotech/novartis-axes-secretive-obesity-program-after-high-risk-high-reward-bet-fails