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AstraZeneca shares fall as lung cancer trial update disappoints.

ReutersJuly 3, 2023

AstraZeneca’s Precision Drug Shows Promise in Lung Cancer Trial

By Maggie Fick and Ludwig Burger

(Reuters) – AstraZeneca announced on Monday that their experimental precision drug, datopotamab deruxtecan, has demonstrated a significant slowdown in the progression of lung cancer in a late-stage trial. However, despite the positive results, the company’s shares fell by as much as 6% as analysts expressed concerns about the potential benefits.

The precision drug, developed in collaboration with Japan’s Daiichi Sankyo, has shown to prolong progression-free survival compared to standard chemotherapy in patients with non-small cell lung cancer that has relapsed after previous treatment attempts, according to AstraZeneca.

This drug belongs to a promising class called antibody drug conjugates (ADC), which combines tumor-seeking monoclonal antibodies with cell-killing chemotherapy.

AstraZeneca also noted that some participants in the trial had died from interstitial lung disease, but assured that the drug’s safety profile aligns with observations from previous clinical trials.

Further details of the trial will be presented at an upcoming medical conference.

Despite the setback in share prices, AstraZeneca remains optimistic about the potential of datopotamab deruxtecan. The drug’s cell-killing molecules target a protein called TROP2, which is associated with the majority of lung cancers. Other pharmaceutical companies, such as Gilead, Merck & Co, and Kelun-Biotech, are also exploring similar drug candidates in this class.

AstraZeneca acquired the collaboration rights to this experimental drug in a 2020 deal worth up to $6 billion with Daiichi, including up to $4 billion contingent on sales. The partnership has already seen success with the ADC drug Enhertu against breast cancer and other tumors.

The trial for datopotamab deruxtecan will continue as planned to assess its impact on overall patient survival, a crucial measure of efficacy.

Barclays analysts acknowledged the success of the trial but cautioned that more data is needed before determining if the drug could become a preferred treatment option after diagnosis. They advised investors to view any negative reaction as a potential buying opportunity.

(Reporting by Maggie Fick in London, Ludwig Burger in Frankfurt and Sinchita Mitra in Bengaluru; Additional reporting by Lucy Raitano in London; Editing by Krishna Chandra Eluri and Susan Fenton)

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