Royalty Pharma is trading 4.6% down at $61.03 after Novartis’ pelacarsen failed to meet the primary endpoint in the HORIZON Phase 3 cardiovascular outcomes trial announced September 4, 2026.

  • The result weakens prospects for a royalty asset and likely explains renewed selling after the Labor Day closure.
  • Broader sentiment is cautious, with U.S. futures lower, but the company-specific clinical setback is the clearer catalyst.