AstraZeneca Reports Positive Data From Cancer Drug Trial: Retail Sentiment Brightens
Synopsis
The company noted that no new safety concerns were identified with the combination of Imfinzi and BCG induction and maintenance therapy in the trial.
Shares of AstraZeneca PLC (AZN) traded 1% higher in pre-market on Friday after the company reported positive results from its late-stage POTOMAC trial evaluating the potential of its oncology drug Imfinzi in patients with high-risk non-muscle-invasive bladder cancer (NMIBC).
The company said that the trial showed one year of treatment with AstraZeneca’s Imfinzi (Durvalumab) plus standard-of-care BCG (Bacillus Calmette-Guérin) induction and maintenance therapy demonstrated a statistically significant improvement in disease-free survival for patients with high-risk NMIBC compared to BCG induction and maintenance therapy alone.
NMIBC is an early-stage cancer where the tumour is in the tissue that lines the inner surface of the bladder but has not invaded the muscle wall. In 2024, an estimated 125,000 patients were treated for high-risk NMIBC, according to AstraZeneca.
The company noted that no new safety concerns were identified with the combination of Imfinzi and BCG induction and maintenance therapy in the trial, and the addition of Imfinzi did not compromise the patient's ability to complete BCG induction and maintenance therapy.
The company added that the data from the trial will be shared with global regulatory authorities.
Imfinzi, one of AstraZeneca’s popular oncology products, is already approved in the U.S. for patients with muscle-invasive bladder cancer (MIBC). The product was first approved in May 2017 and has since been used to treat over 374,000 patients.
In the first quarter of this year, Imfinzi contributed $1.26 billion in revenue to the company, accounting for 9% of its total medicine revenue.
On Stocktwits, retail sentiment around AstraZeneca jumped from ‘bearish’ to ‘neutral’ territory over the past 24 hours while message volume rose from ‘low’ to ‘normal’ levels.
AZN stock has gained about 2% this year but is down over 13% over the past 12 months.
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