Danske Bank: Lundbeck to continue phase 3 trial of Brexpiprazole

Lundbeck (UW) and Otsuka have announced the decision to continue the phase 3 clinical trial of brexpiprazole. The decision to continue the trial is based on the results of an independent interim analysis supporting to progress the trial to the planned full enrollment of 330 patients – currently 255 patients have completed the trial. Completion of the trial is expected in the first half of 2022. Overall it is difficult to make conclusions on the announcement from Lundbeck in our view. It could be seen as a positive that the trial continues with the full 330 patients. On the other hand it could be seen as negative that Lundbeck and Otsuka are not able to publish a clear effect after 255 patients have concluded the trial. In our view this could be seen as slightly credit negative but this is more a long term issue regarding the future pipeline.