ABBVIE INC. - ABBV STOCK NEWS

AbbVie (ABBV) has received European Commission approval for ELAHERE® (mirvetuximab soravtansine) to treat platinum-resistant ovarian cancer in adult patients with folate receptor-alpha positive disease who have received one to three prior systemic treatments. This marks the first FRα-directed antibody drug conjugate approved in the EU and associated regions.

The approval is supported by the Phase 3 MIRASOL trial results, which showed a 35% reduction in tumor progression or death risk and a 33% reduction in death risk compared to chemotherapy. The companion diagnostic VENTANA FOLR1 RxDx Assay also received CE Mark approval to identify eligible patients.

AbbVie (NYSE: ABBV) has announced 20 winners of the inaugural AbbVie Migraine Career Catalyst Award™ contest, supporting career aspirations of people living with migraine. The winners, selected through essay, video, and audio submissions, represent diverse professions including engineers, scientists, teachers, and artists. The initiative addresses the significant impact of migraine on careers, noting that nearly 40 million Americans live with this debilitating neurological disease, resulting in over 113 million work days lost annually in the U.S. Winners will receive support to pursue their professional goals while managing migraine symptoms, demonstrating that career ambitions can extend beyond the disease's impact.

AbbVie (NYSE: ABBV) announced that its Phase 2 EMPOWER trials for emraclidine, investigating its use as a once-daily oral treatment for schizophrenia, did not meet their primary endpoint. The trials failed to demonstrate statistically significant reduction in PANSS total scores compared to placebo at week 6. Despite the disappointing results, the drug was well-tolerated with a safety profile similar to Phase 1b trials. Common adverse events included headache (9.4-14.6%), dry mouth (0.8-9.3%), and dyspepsia (1.5-7.8%). The company continues to analyze data to determine next steps while maintaining its commitment to developing treatments for psychiatric and neurological disorders.

Allergan Aesthetics announces its sixth annual BOTOX® Cosmetic Day on November 20, featuring exclusive offers through the Allē rewards program. Following last year's record-breaking gift card sales, this year's celebration includes a Buy-One-Get-One Free gift card offer ($50 value), a Refer-a-Friend promotion worth $50, and a chance to win $10,000.

BOTOX® Cosmetic recently received FDA approval for treating platysma bands, making it the first neurotoxin with four aesthetic indications, including forehead lines, frown lines, and crow's feet lines. The Allē program serves over seven million members across nearly 30,000 practices, offering rewards on various aesthetic treatments and flexible payment options.

Lauren White has been appointed as Chief Financial Officer of Seaport Therapeutics, a clinical-stage biopharmaceutical company focused on neuropsychiatric medicines. White previously served as CFO at ImmunoGen, where she played a important role in the company's $10.1 billion acquisition by AbbVie in 2024 and the commercial launch of ELAHERE®. With over 22 years of experience, White's background includes positions at C4 Therapeutics, Novartis, Boston Consulting Group, and General Electric. She holds a BS from Boston College and an MBA from Harvard Business School.

AbbVie (NYSE: ABBV) and EvolveImmune Therapeutics announced a collaboration and option-to-license agreement to develop multispecific biologics for cancer treatment. The partnership combines AbbVie's oncology expertise with EvolveImmune's proprietary EVOLVE T-Cell Engager Platform, designed to deliver potent T-cell co-stimulation to enhance tumor-killing capacity.

The agreement includes $65 million in upfront fees and equity investment from AbbVie, with potential earnings of up to $1.4 billion in option fees and milestones, plus tiered royalties on net sales. The platform aims to overcome therapeutic challenges in solid and hematologic tumors by bypassing low tumor immunogenicity and reducing T-cell dysfunction.

AbbVie (ABBV) reported strong Q3 2024 financial results with worldwide net revenues of $14.460 billion, up 3.8% on a reported basis. The company's immunology portfolio generated $7.046 billion, while neuroscience portfolio reached $2.363 billion. Adjusted diluted EPS was $3.00, including a $0.04 per share impact from IPR&D expenses. AbbVie raised its 2024 adjusted EPS guidance to $10.90-$10.94 and announced a 5.8% dividend increase for 2025. The company successfully completed the Cerevel acquisition, strengthening its neuroscience portfolio.

SkinSpirit is partnering with Allergan Aesthetics, an AbbVie company, to support Girls Inc. in promoting STEM careers among young women. SkinSpirit will initiate the campaign with a $5,000 donation through SkinSpirit Gives and enable client donations from November 1-15th, with all proceeds supporting Girls Inc.'s STEM programming across 350 cities and 75 affiliates nationwide, reaching over 114,000 girls. This marks the sixth year of Allergan Aesthetics' partnership with Girls Inc. and SkinSpirit's first year of participation in the initiative.

AbbVie (NYSE: ABBV) has announced the acquisition of Aliada Therapeutics for $1.4 billion in cash, strengthening its neuroscience pipeline. The deal centers on Aliada's lead compound ALIA-1758, an anti-pyroglutamate amyloid beta antibody in development for Alzheimer's disease, currently in Phase 1 trials. The acquisition includes Aliada's proprietary MODEL™ platform, featuring novel blood-brain barrier crossing technology that targets transferrin and CD98 receptors for enhanced CNS drug delivery. The transaction is expected to close in Q4 2024, subject to regulatory approvals.