In top news on UK stocks, AstraZeneca PLC (GB:AZN) released disappointing results for its cancer drug, Imfinzi, in an advanced lung cancer trial. The company stated that the ADJUVANT BR.31 Phase III trial did not achieve the expected turnaround for disease-free survival in early-stage lung cancer. Disease-free survival refers to the duration after treatment during which a person remains free from cancer recurrence. AZN shares are trading up by 0.43% as of writing.
Meanwhile, the latest findings contrast with the favorable results for Imfinzi released in April 2024, which showed positive outcomes for patients with limited-stage small-cell lung cancer.
AstraZeneca is a leading global pharmaceutical company, serving billions of people worldwide. AZN’s Imfinzi is a human monoclonal antibody that restricts a tumour, while enhancing the body’s anti-cancer immune response and providing an alternative to chemotherapy.
AstraZeneca’s Imfinzi Trials Show Mixed Results
The ADJUVANT BR.31 Phase III trial was aimed to assess Imfinzi for additional treatment in 1,415 patients with early-stage non-small-cell lung cancer after complete tumour removal, with or without chemotherapy. Despite falling short of the desired results, AstraZeneca remains dedicated to the development of Imfinzi and its potential to transform cancer treatment.
In 2023, Imfinzi reported a 55% year-over-year increase in its sales of $4.24 billion on a constant exchange rate.
On the plus side, the company reported positive outcomes from the phase three NIAGARA trial for Imfinzi when combined with chemotherapy for treating muscle-invasive bladder cancer.
Is AstraZeneca a Good Buy Now?
As per TipRanks, AZN stock has a Moderate Buy consensus rating, supported by 12 Buys, four Holds, and one Sell recommendation. The AstraZeneca share price forecast stands at 13,052.06p, which is 4.12% above the current trading level.
