AstraZeneca's ADSs Rise After Reporting Positive Results in Breast Cancer Drug Trial

Takeaways

AstraZeneca announced positive results in a phase 3 trial of its breast cancer treatment developed with Japan's Daiichi Sankyo.
The drug treats patients with the most common form of breast cancer .
The companies said plans for regulatory approval were underway and they were also studying the drug's potential in treating lung cancer.

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AstraZeneca (AZN) ADSs rose after announcing that its experimental breast cancer treatment made with Japanese partner Daiichi Sankyo showed high positive results in a phase 3 trial.

AstraZeneca reported that its datopotamab deruxtecan (Dato-DXd) demonstrated “a statistically significant and clinically meaningful improvement in progression-free survival” for patients with inoperable or metastatic hormone receptor-positive breast cancer who received #39;other treatments.

Susan Galbraith, executive vice president of oncology research and development at AstraZeneca, called the findings a “significant development” for people with the most common form of breast cancer whose tumors have become unresponsive to endocrine therapy. .

Companies noted that Plans for global regulatory submissions were underway. They are also investigating the possibility of using Dato-DXd as a treatment for lung cancer.

American Depositary Shares (ADS) AstraZeneca's stock was up 2% in early trading Friday midday ET after the news, but was down 1.4% year to date. br>