Merck announces phase 3 COPD prevention study after muted trading session

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Merck stock edges lower to $148.45

Highlights

Merck has started a phase 3 trial evaluating OHTUVAYRE for preventing exacerbations in adults with chronic obstructive pulmonary disease and previous flare-ups.
The study will enroll about 2,136 participants in 28 countries over 52 weeks and track moderate or severe COPD flare-ups.
Shares edge lower on the day, trading at $148.45.

Merck announced on October 26, 2026 that it is launching a phase 3 clinical study targeting the prevention of chronic obstructive pulmonary disease (COPD) exacerbations in adult patients with a history of these flare-ups. The trial, referred to as ENHANCE-3, will evaluate OHTUVAYRE (ensifentrine) for its efficacy in preventing exacerbations among these patients, according to FinancialContent. Merck plans to recruit about 2,136 participants across 28 countries for the trial, which will track moderate or severe COPD flare-ups over 52 weeks, Stock Titan reported.

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Bullish structure holds as session opens with downside gap

Shares of Merck opened the session with a gap down from $149.59 to $147.56. Price action holds above MA-20, MA-50, and MA-200, preserving a bullish daily chart structure, while Stoch RSI is in overbought territory and limits the potential for further upside. The nearest support is the MA-50 at $146.8 and a contained move within a narrow range has defined the past week.

Upside odds dominate as price targets key technical levels

Traders should watch for a close above $150.7 to confirm buyers are willing to follow through, or a drop below $146.8 to show the move is being faded. Early in the session, shares gapped down from $149.59 to $147.56 before reclaiming part of the loss. Even so, over the next five trading days, the probability of upside is more than 80% and the probability of downside is less than 20%, within an expected trading range of $143.7 to $153.19. On the weekly chart the longer-term picture stays firmly constructive.

Previously it was reported that Merck's third-quarter earnings results highlighted a mixed technical structure, with traders focusing on key support and resistance levels for directional cues. The current initiation of a large-scale phase 3 COPD trial adds a new catalyst, and with the stock maintaining a bullish technical posture, traders should watch for a decisive move above $150.7 or below $146.8 for the next directional signal.

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