Novartis shares took a hit after the company acknowledged failure of its neuromuscular candidate delpacibart etedesiran in a pivotal phase 3 trial, according to reporting on the StockWatch. The study missed its primary endpoint of statistically significant improvement versus placebo in video Hand Opening Time through week 54. Artisan Partners publicly criticized Novartis’ board and acquisition oversight, arguing the deal track record has failed to create value and calling for changes in governance. The discussion also highlighted Novartis’ $12 billion acquisition of Avidity Partners, intended to bolster neuroscience and late-stage RNA therapeutics programs. For biotech leaders, the episode reinforces how late-stage RNA and “new modality” bets are increasingly evaluated not only on scientific promise but also on board-level execution and portfolio integration. The delpacibart etedesiran setback may also influence how investors price future AOC-style RNA delivery programs until stronger efficacy signals emerge.