Illustrative image of a person holding a medical syringe and Covid-19 vaccine vial in front of the AstraZeneca logo displayed on the screen. Wednesday, January 12, 2021, Edmonton, Alberta, Canada. (Photo by Artur Widak/NurPhoto via Getty Images)
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AstraZeneca Shares fell more than 5% on Tuesday morning, their biggest one-day drop in seven months, after the British pharmaceutical giant announced disappointing results from a lung cancer drug trial.
The Covid-19 vaccine maker was trading at the bottom of the FTSE 100 after Monday’s data and dragged the broader healthcare sector lower. show Its experimental drug did not significantly improve overall patient survival outcomes.
The stock was down 4.9% as of 9:43 a.m. London time.
The company said late-stage results from the TROPION-Lung01 Phase III trial showed the new drug’s overall survival rate “failed to reach statistical significance.”
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