11:46 AM EST, 11/11/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and the first paragraph.)

AbbVie ( ABBV ) shares fell nearly 12% in recent trading Monday after the company said its two phase 2 trials assessing emraclidine in adult patients with schizophrenia and acute exacerbation of psychotic symptoms didn't meet their primary goal.

The primary endpoint was an improvement in the change from baseline in the Positive and Negative Syndrome Scale, or PANSS, score compared with the placebo group at week six, the company said.

AbbVie ( ABBV ) Chief Scientific Officer Roopal Thakkar said they were analyzing the data to determine their next steps.

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