Merck & Co. stock advances as COPD trial opens new catalyst path

Published on 11/05/2026 at 13:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Merck & Co. stock gains as OHTUVAYRE enters a global Phase 3 COPD study. Recruitment has begun in the United States.

New COPD trial advances OHTUVAYRE

Merck began recruiting for ENHANCE-3, a Phase 3 study evaluating OHTUVAYRE alongside standard care.
The trial plans to enroll about 2,136 patients across 28 countries.
Merck expects the study to provide evidence on COPD exacerbations, lung function, quality of life and safety.

Merck & Co., US58933Y1055, Illustration mit AI erstellt.

Merck & Co. has started a new late-stage study for OHTUVAYRE as the drugmaker seeks to expand the clinical evidence around its COPD treatment. In a November 3 statement, Merck announced the initiation of ENHANCE-3, a Phase 3 randomized trial evaluating OHTUVAYRE, also known as ensifentrine, for the prevention of COPD exacerbations.

Recruitment has begun, with the first participants enrolling in the United States. Merck said the study is designed for adults with COPD who have a history of moderate or severe exacerbations while receiving standard care. The company is positioning the trial as a step toward strengthening the evidence base for a medicine already approved in the United States for maintenance treatment of COPD.

Global study targets exacerbations

ENHANCE-3 is planned as a randomized, double-blind, placebo-controlled study involving approximately 2,136 patients in 28 countries. Participants will receive either OHTUVAYRE twice daily or placebo, with both groups continuing standard-of-care treatment.

The primary endpoint is the annualized rate of adjudicated moderate or severe COPD exacerbations over 52 weeks. Secondary measures include lung function, health-related quality of life, severe exacerbations and overall safety. The design focuses on adults aged 40 to 80 with a confirmed COPD diagnosis, stable background therapy and at least one qualifying exacerbation during the previous year.

Pipeline relevance for investors

OHTUVAYRE is a selective dual inhibitor of phosphodiesterase 3 and 4. Merck describes it as an inhaled treatment that combines bronchodilation with non-corticosteroid anti-inflammatory effects. The company said the medicine has already shown statistically significant and clinically meaningful lung-function improvements in the earlier ENHANCE-1 and ENHANCE-2 Phase 3 studies.

The new trial does not yet establish an outcome for the expanded prevention setting. For investors, its importance lies in the potential to broaden the clinical profile of OHTUVAYRE beyond its current maintenance-treatment use. Merck said it expects to share ENHANCE-3 results with regulatory authorities globally, making recruitment and later trial readouts the key milestones to follow.

Merck & Co. stock traded at 135.44 euros on Lang & Schwarz at 13:18 CET on Thursday, November 5, 2.72 percent above the Xetra close of 131.86 euros on Wednesday, November 4. The real-time quote of Merck & Co. stock provides the latest market indication.