Why Molecular Partners Shares Are Falling

Molecular Partners AG MOLN shares are trading lower again Thursday on continued weakness after the company recently said its partner Novartis expects the FDA may require additional clinical data for the Emergency Use Application for ensovibep.

Vas Narasimhan, Novartis’ CEO, also noted the current omicron wave of SARS-Cov-2, and the lower incidents of hospitalization associated with it, have made clinical investigations challenging to execute in this evolving environment. 

Novartis is engaging with the FDA to align on a potential Phase 3 study design that could provide the additional data the agency is seeking for the EUA or full regulatory approval.

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According to data from Benzinga Pro, Molecular Partners has a 52-week high of $32.04 and a 52-week low of $7.99.