The week is off to an ugly start for some pharmaceutical investors.
Bayer said it is halting a trial for asundexian, an experimental cardiovascular drug, due to a lack of efficacy in treating patients with atrial fibrillation, a condition that causes an irregular heartbeat.
The setback for Bayer, the German chemical and drug giant, bodes poorly for a similar experimental drug at Bristol Myers Squibb, known as milvexian.