ASTRAZENECA HALTS LATE-STAGE LUNG CANCER DRUG TRIAL

AstraZeneca halted a phase three trial of its drug Volrustomig after the Independent Data Monitoring Committee recommended the decision following a planned review of trial data. The company found that Volrustomig, when combined with chemotherapy, was unlikely to increase survival rates for lung cancer patients compared with existing treatments. Susan Galbraith, an executive vice president at AstraZeneca, described the decision as a disappointment but stated the company remained committed to developing new medicines for lung cancer patients.

The trial halt represents the second major setback for the FTSE 100 firm in just over a month. In July, AstraZeneca stopped a trial for Wainua, a new heart disease drug, an announcement that resulted in billions being wiped from the company's stock market value. Lung cancer accounts for approximately 23 per cent of all cancer deaths, making it the leading cause of cancer mortality. AstraZeneca said it would continue testing Volrustomig in trials for other cancer types, including cervical cancer, head and neck squamous cell carcinoma, and mesothelioma.

The company announced positive results on the same day for its Enhertu treatment, which showed what it described as statistically significant and clinically meaningful improvement in progression-free survival for patients with non-small cell lung cancer. Enhertu will now advance to a phase three trial. Galbraith noted that this type of lung cancer often affects younger patients and has historically had limited first-line targeted treatment options. Shares in AstraZeneca rose 2 per cent in early Monday trading.