Novartis said its Phase 2 trial of an ALS treatment didn't meet its primary or secondary endpoints.

The drugmaker said Wednesday that it has decided to discontinue the development of VHB937 in ALS.

The trial's end comes after a string of setbacks for Novartis this month.

Earlier in September, the Swiss company said an experimental neuromuscular treatment called del-desiran failed a late-stage clinical trial. It also said that a closely watched cholesterol drug called pelacarsen failed to reduce the risk of severe cardiovascular events.

Novartis also paused eight trials of a cell therapy for autoimmune and neurological disorders in late August, after three patients died.

Its shares dropped earlier this month amid the news of the failed trials, with the stock down 9% over the past 30 days.

Analysts say the string of failures could reignite investors' concerns about how Novartis will grow beyond 2030.