
AstraZeneca share price falls, clinical trial unconvincing
(CercleFinance.com) - AstraZeneca shares fell in early trading on the London Stock Exchange on Tuesday, as the pharmaceutical company unveiled the results of a clinical trial in the treatment of lung cancer, which were deemed unconvincing by investors and analysts.
At around 9.15am, the share price was down almost 5%, by far the biggest faller on the British FTSE 100 index and the STOXX Europe 600.
On Monday evening, the Group published the results of its Phase III clinical trial evaluating the efficacy of Dato-DXd in locally advanced or metastatic non-squamous non-small-cell lung cancer, a disease with a prognosis generally not exceeding one year.
This study was not statistically conclusive, says AstraZeneca, which points out that overall survival in treated patients reached 14.6 months, compared with 12.3 months in the chemotherapy group, an improvement of 2.3 months.
In a reaction note, analysts at Oddo BHF - who are 'neutral' on the stock - refer to an 'inconclusive' overall survival, stressing that Dato-DXd did 'marginally better' than docetaxel (chemotherapy).
Those at UBS are more optimistic, believing that the trial suggests the possible identification of patients in whom the treatment is most likely to work.
A view shared by Stifel's teams.
'The overall survival data clearly show that patients need to be well selected', believes the investment services provider.
'There are, unequivocally, benefits for certain patients with Dato-Dxd', it concludes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
At around 9.15am, the share price was down almost 5%, by far the biggest faller on the British FTSE 100 index and the STOXX Europe 600.
On Monday evening, the Group published the results of its Phase III clinical trial evaluating the efficacy of Dato-DXd in locally advanced or metastatic non-squamous non-small-cell lung cancer, a disease with a prognosis generally not exceeding one year.
This study was not statistically conclusive, says AstraZeneca, which points out that overall survival in treated patients reached 14.6 months, compared with 12.3 months in the chemotherapy group, an improvement of 2.3 months.
In a reaction note, analysts at Oddo BHF - who are 'neutral' on the stock - refer to an 'inconclusive' overall survival, stressing that Dato-DXd did 'marginally better' than docetaxel (chemotherapy).
Those at UBS are more optimistic, believing that the trial suggests the possible identification of patients in whom the treatment is most likely to work.
A view shared by Stifel's teams.
'The overall survival data clearly show that patients need to be well selected', believes the investment services provider.
'There are, unequivocally, benefits for certain patients with Dato-Dxd', it concludes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.