Lung Cancer

Shares in AstraZeneca dive as key cancer drug trial fails

Shares in Anglo-Swedish drugmaker AstraZeneca plunged as much as 17 percent Thursday after a new lung cancer treatment proved less successful than the company had hoped.

AstraZeneca said human trials of the drug Imfinzi failed to meet the goal of improving progression-free survival rates in patients with non-small cell lung cancer. Investors saw the results as a major setback because the company had hoped the study, known as Mystic, would show Imfinzi to be more effective than standard chemotherapy.

"Analysts have been waiting for the numbers from the Mystic trial for months and had, admittedly tentatively, booked in billions of dollars of future sales from the...

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