AstraZeneca PLC (NASDAQ: AZN) witnessed a dramatic 8.83% plunge in its share value on Monday following a disappointing update on its lung cancer trial.
The renowned pharmaceutical company announced on Monday that its experimental precision drug, datopotamab deruxtecan, demonstrated a slowdown in the progression of lung cancer during a late-stage trial. However, this seemingly positive development failed to impress analysts, who noted that the benefits may not be as significant as anticipated.
The clinical trial results indicated that datopotamab deruxtecan showed a prolongation of progression-free survival compared to standard chemotherapy. The trial specifically focused on patients with non-small cell lung cancer that had returned after one or two prior treatment attempts.
The drug is being developed in collaboration with Japan’s Daiichi Sankyo and falls under the category of antibody-drug conjugates (ADC). ADCs are comprised of monoclonal antibodies that target tumors, coupled with chemotherapy agents that can destroy cancerous cells.
Unfortunately, AstraZeneca’s announcement also carried the somber news that some trial participants had succumbed to interstitial lung disease, which involves scarring of lung tissue. Nevertheless, the company maintained that the safety profile of the drug remained consistent with observations made during previous clinical trials.
Jennifer Tacker is a staff writer at ABBO News. She holds a B.A. from the University of Waterloo and a B.Ed from Western University. Jennifer has been active in the stock market and crypto sector for a decade. She specializes in technical analysis and trading strategies.
