- The bombshell news was that in the much-hyped Mystic trial, AstraZeneca's stage-IV lung cancer drug Imfinzi failed to meet its hoped for target for progression free survival compared with standard chemotherapy, either in combination with tremelimumab or on its own.
- The study was seen as key to proving the value of the group's new drug pipeline and its future as an independent company, after it spurned a $118 billion takeover attempt by Pfizer in 2014.
- AstraZeneca said that it will continue to test for further primary endpoints for overall survival for Imfinzi, or durvalumab, both in monotherapy and in combination. But the results of the study of the human monoclonal antibody, which is intended to counter a tumor's immune-evading tactics and trigger an immune response, will not be available before the first half of 2018.
European drugmaker AstraZeneca (AZN) early Thursday delivered better-than-expected earnings, but shares plunged after a key lung cancer drug trial failed.
AstraZeneca reported adjusted income of 87 cents a share on $5.05 billion in sales, compared with 83 cents a share on $5.6 billion in sales in the year-earlier period. Analysts polled by Zacks Investment Research forecast adjusted earnings of 41 cents per share and $5.05 billion in sales.
But AstraZeneca said a combination of two immuno-oncology drugs failed to shrink lung cancer treatments in its so-called Mystic drug trial. AstraZeneca had pinned its hopes on the trial and immuno-oncology generally.
No comments:
Post a Comment