AstraZeneca: shares largely unchanged after trial data.
(CercleFinance.com) - AstraZeneca shares are actually broadly unchanged today after the company's breast cancer drug significantly reduced the risk of disease worsening or death in patients with metastatic breast cancer in a clinical trial.
The phase III trial showed that patients had a 42%-reduction in the risk of their HER2-negative gBRCA-mutated metastatic breast cancer worsening or death compared to those who received chemotherapy.
The study therefore showed a statistically-significant and clinically-meaningful improvement in progression-free survival (PFS) for patients treated with Lynparza tablets, compared to treatment with physician's choice of a standard of care chemotherapy.
The data was presented last weekend at the 2017 ASCO annual meeting in Chicago.
"Together with an improved safety profile, this forms the basis of a likely sound success for Lynparza in advanced BC which is the second indication for the drug after ovarian and one that should be officially obtained on-label early next year in the US," commented Bryan Garnier, which has a "buy" rating on the shares.
Lynparza tablets are an investigational formulation and are not yet FDA-approved for any use.
After the results, Bryan Garnier raised its fair value on the stock to 5,900 pence from 5,750 pence.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The phase III trial showed that patients had a 42%-reduction in the risk of their HER2-negative gBRCA-mutated metastatic breast cancer worsening or death compared to those who received chemotherapy.
The study therefore showed a statistically-significant and clinically-meaningful improvement in progression-free survival (PFS) for patients treated with Lynparza tablets, compared to treatment with physician's choice of a standard of care chemotherapy.
The data was presented last weekend at the 2017 ASCO annual meeting in Chicago.
"Together with an improved safety profile, this forms the basis of a likely sound success for Lynparza in advanced BC which is the second indication for the drug after ovarian and one that should be officially obtained on-label early next year in the US," commented Bryan Garnier, which has a "buy" rating on the shares.
Lynparza tablets are an investigational formulation and are not yet FDA-approved for any use.
After the results, Bryan Garnier raised its fair value on the stock to 5,900 pence from 5,750 pence.
Copyright (c) 2017 CercleFinance.com. All rights reserved.