BofA Sees Trial Success of Novartis' Muscular Dystrophy Drug as 'Must-have' After Pelacarsen Miss

07:33 AM EDT, 09/07/2026 (MT Newswires) -- BofA Global Research views the success of the upcoming late-stage data readout of Novartis' (NOVN.SW) myotonic dystrophy type 1 candidate, del-desiran, as a "must-have," after the pharmaceutical company's pelacarsen failed a phase 3 cardiovascular trial. "Post pelacarsen failure, focus likely shifts to imminent DM1 (del-des) PIII data, given [ClinicalTrials.gov] already showing trial completion, with data likely prior to detailed [remibrutinib in multiple sclerosis] data (23 Oct). We have seen much less recent investor debate on DM1 given recent focus on Remi MS and pela. Overall, DM1 success is important given [it is] linked to prior Avidity acquisition, and the investment thesis needs more than just Remi MS to see path to growth through the patent cliff, in our view," analysts said Monday, adding they are "directionally positive" on del-desiran. Novartis on Sept. 4 announced that pelacarsen failed to meet its primary late-stage endpoint of reducing the risk of cardiovascular events, despite lowering elevated lipoprotein (a) levels. However, BofA sees the setback as low-impact, noting that it perceived the trial as "higher risk" and the "least important" of the company's second-half catalysts. The buy rating on Novartis' stock was reiterated, with a price objective of 150 francs.