What is AbbVie stock doing on Friday?

Friday.AbbVie Inc. (NYSE:ABBV) announced an interim analysis of an ongoing 156-week Phase 3 open-label extension study evaluating the long-term safety and tolerability of oral atogipan for the prevention of migraine in patients with chronic or flare-up migraine.

According to Benzinga Pro, the company's shares were trading lower, with volume of 3.9 million shares traded in Panzhong, compared to an average volume of 5.6 million shares.

Please also read: AbbVie Raises Long-Term Outlook for New Immunology Drugs Even as Q4 Revenue and Profit DeclineThe

The extension study included participants in the Plus 3 PROGRESS and ELEVATE clinical trials who had a baseline migraine day burden of 14.5 days per month and completed these studies.

The key findings of the interim analysis include

• At weeks 13-16, the average number of migraine days per month improved by 8.5 days and remained unchanged for 48 weeks.

• Similar improvements were seen in the number of headache days per month and the number of acute medication days per month.

• At Weeks 13-16, subjects with 70% had ≥50% fewer migraine days per month, which was maintained over the 48-week open-label treatment period.

The aggregate safety results were consistent with the known safety profile of Atogapan 60 mM, and no new safety signals were identified.

The most common treatment-emergent adverse events (≥51 TP3T) were COVID-19 (28.71 TP3T), nasopharyngitis (10.91 TP3T), and constipation (8.21 TP3T).

Atogepant, also known as Qulipta in the U.S. and Aquipta in the EU, has been approved in 45 countries.

In 2023, Qulipta's sales were $408 million, including $114 million in the fourth quarter of 2023.

AbbVie raised its long-term revenue outlook for Ubrelvy and Qulipta and expects Ubrelvy and Qulipta to exceed $3 billion in combined peak revenues, an increase of approximately $1 billion compared to its previous guidance of more than $1 billion in peak revenues per asset.

Read next: Baden or Biden (name)Government to send out rock-bottom quotes to drug companies for first drug price negotiation under the Medi-Cal insurance program.The

Price Trend:Shares of ABBV traded down 2.75% on Friday, hitting $162.92.

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