🔴 Royalty Pharma is trading 6.5% down today after pelacarsen failed HORIZON’s primary endpoint

Royalty Pharma is trading 6.5% down at $59.81 (-6.49%) after Novartis announced on September 4, 2026, that pelacarsen failed to meet the primary endpoint in the Phase 3 Lp(a)HORIZON cardiovascular-outcomes trial.

• Pelacarsen failed to reduce cardiovascular events versus placebo in the overall study population.
• The setback weakens prospects for a significant royalty asset, pressures long-term royalty growth, and triggered selling in related companies, including Ionis.
• The broader market is only modestly lower, making the trial result the dominant catalyst.