AbbVie Inc.’s disappointing trial results for its new schizophrenia drug bode well for rival Bristol Myers Squibb Co., analysts said.

Shares of pharma major AbbVie Inc ($ABBV) tumbled over 12% on Monday after the company disclosed that its Schizophrenia drug trial failed to meet their primary endpoint. AbbVie said its two phase 2 EMPOWER trials investigating emraclidine as a once-daily,

AbbVie said a recently acquired drug candidate for schizophrenia missed the key goal in mid-stage studies, pushing its stock sharply lower. Phase 2 studies for emraclidine failed to show a statistically significant improvement in symptoms after six weeks,