Why Is AstraZeneca Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
AstraZeneca's stock is trading lower due to disappointing results from a late-stage trial of its experimental drug, datopotamab deruxtecan, for lung cancer patients. The data was worse than expected, with the drug only improving the time patients live without their disease worsening by 0.7 months compared to chemotherapy. The results did not drive excitement and are unlikely to result in any changes to forecast numbers for the drug.
October 18, 2023 | 3:57 pm
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AstraZeneca's stock is expected to trade lower due to disappointing trial results for its experimental lung cancer drug.
The disappointing results from the late-stage trial of AstraZeneca's experimental lung cancer drug have led to a decrease in the company's stock price. The drug did not meet analysts' expectations, which has negatively impacted investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100