AstraZeneca's Imfinzi Drug Combo Fails in Phase III Lung Cancer Trial
AstraZeneca's Imfinzi Drug Combo Fails in Phase III Lung Cancer Trial
The news comes amid speculation over the future of Astra Zeneca chief executive Pascal Soriot
27 July, 2017, 17:59
Shares in Anglo-Swedish drugmaker AstraZeneca plunged as much as 17 percent Thursday after a new lung cancer treatment proved less successful than the company had hoped.
The shares slumped 15.2% to £43.26, dropping to the bottom of the FTSE 100, which fell 10 points, or 0.1%, to 7,442. "The company still has a number of other interesting pipelines and recently launched assets and durvalumab (Imfinzi) have already had success in other settings (Stage III unresectable NSCLC and bladder) and could still show benefits in other indications including head & neck, SCLC, breast and pancreatic cancer", the note said.
The trial will continue to assess two additional primary endpoints of overall survival (OS) for Imfinzi monotherapy and OS for the Imfinzi plus tremelimumab combination. Also in lung cancer, we're delighted with the strong results from the FLAURA trial for Tagrisso, which goes from strength to strength.
AstraZeneca (AZ) has tried to put a fearless face on today's news that its immunotherapy combination is unlikely to be a contender in lung cancer. With the failure of Mystic, at least on the progression-free survival endpoints, now likely to be fully factored into expectations, the dividend may now look less safe and we expect some investors will start to question its long-term sustainability, despite prior reassurances from management. I'm proud to be the CEO of this company and I'm looking forward to continuing on our journey ahead. Uncertainty about the MYSTIC outcome had been heightened recently by speculation that Soriot might be considering a highly paid new job as head of Israel-based Teva Pharmaceutical Industries.
Soriot declined to comment directly on the "rumours", but stressed: "I'm not a quitter".
Lankan navy rescues two jumbos stranded in sea
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Bristol-Myers Squibb famously learned that lesson the hard way, pushing to test its flagship checkpoint inhibitor Opdivo (nivolumab) in lung cancer patients with 1% or greater PD-L1 expression.
The combination was seen as AstraZeneca's ticket to catch up to leaders in immunotherapy, a new way of treating cancer that unleashes the power of the body's own immune system.
The negative results from the so-called MYSTIC study are a stinging setback to AstraZeneca's ambition to leapfrog over its cancer immunotherapy rivals. AstraZeneca certainly seems to agree, announcing alongside its statement on MYSTIC that it would join up with Merck in an $8.5 billion cancer partnership.
AstraZeneca reported the findings along with second-quarter financial results that were less than rosy as the loss of patent protection for two blockbuster drugs hurt sales.
The company's new oncology products produced sales of $537 million in the first half of 2017 (up from $251 million in the same period last year), led by targeted lung cancer drug Tagrisso and Lynparza. Analysts polled by Zacks Investment Research forecast adjusted earnings of 41 cents per share and $5.05 billion in sales.
Packed with the new 360 camera Moto Mod feature, this Motorola smartphone will be available in the market starting August 10. Priced at $799, the Moto Z2 Force will be available in three color variants, including Black, White-Gold and Slate Gray.
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People with the disorder experience problems with thinking and memory, mood disorders, and behavioral problems, Daneshvar said. While new methods for CTE diagnosis are in the works, "nothing is ready for prime time yet", he said.
Soon enough, the memes will be right: You'll have a "Stories" feature on your calculator , microwave, and every other device. The Facebook chief has also revealed that WhatsApp Status, its Snapchat Stories clone, has reached 250 million daily users.
The nursing home on the building's ground floor did not have many patients as the place was being renovated. Others were also taken to Shantiniketan hospital. "Five others are admitted and four have been discharged".
Profit growth back in 20s: With 20.2 per cent growth for June quarter, HDFC Bank again hit high-speed growth. A fair portion does reflect the changed customer behaviour in anticipation of the loan waivers announced.
Recently, she changed her Twitter bio to " high-quality person " to mock Trump after he tried to defend his son with the title. Despite his actions, that has not stopped the star from trolling the president.
"I'm really nice at SoulCycle , actually, because once my endorphins kick in, I'm actually nearly too friendly", she told Cohen. I am just being honest, ' Mowry, who was 39 years old at the time, stated.
Rain chances will increase Thursday night
Savannah, Ga. (WJCL)- It's looking rather wet today with an upper level low pressure system tracking across the area today . A few showers will likely linger from time to time overnight, but the storm threat will likely diminish past sunset.
Newborn abandoned in North California parking lot
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