On Monday, Novartis released results from the Phase III CANOPY-A trial, showing that its candidate canakinumab (ACZ885) failed to meet its primary efficacy endpoint in adult non-small cell lung cancer (NSCLC) patients.

VBL’s stocks took a nosedive following the reveal, with prices dropping around 76% after Tuesday’s closing bell.

North Carolina-based 9 Meters Biopharma, a clinical-stage company that creates treatments for digestive diseases, is discontinuing its Phase III trial studying larazotide for the treatment of celiac disease due to disappointing interim results.

June is Myasthenia Gravis Awareness month. As with so many rare diseases, the standard of care for myasthenia gravis (MG) doesn’t address the root of the illness and comes with side effects that can be serious. Nipocalimab, which is in Phase III development at Janssen, goes to the cause of the disease.

Lexington, Mass.-based Aldeyra Therapeutics reported that the company’s reproxalap hit the mark in the Phase III Tranquility-2 study for dry eye disease. The drug showed statistical superiority for its two primary endpoints.

Biogen and Ionis Pharmaceuticals have announced results from the Phase III VALOR trial and an open-label extension trial of the amyotrophic lateral sclerosis (ALS) hopeful tofersen. This data suggests that earlier initiation of the drug compared to delayed initiation decreased declines in clinical function, respiratory function, muscle strength and quality of life.

New York-based Axsome Therapeutics published results from the pivotal Phase III Gemini trial of AXS-05 (dextromethorphan-bupropion) in major depressive disorder (MDD).

Sage Therapeutics and partner Biogen shared news that their Phase III Skylark study has yielded promising results for women suffering from severe postpartum depression (PPD).