Novartis paid $12bn for Avidity Biosciences. What does del-desiran’s Phase 3 failure do to the deal thesis?
Novartis’ acquisition of Avidity Biosciences brought three late-stage antibody oligonucleotide conjugate programmes into its neuromuscular pipeline. The failure of del-desiran’s Phase 3 HARBOR study now forces investors to separate a damaging lead-asset setback from the value that may remain elsewhere in the platform.
