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WILMINGTON, Del. - AstraZeneca (AZN), a prominent player in the pharmaceuticals industry with a market capitalization of $239.77 billion, announced its IMFINZI (durvalumab) treatment has shown a statistically significant improvement in event-free survival (EFS) for patients with resectable gastric and gastroesophageal junction (GEJ) cancers, according to results from the MATTERHORN Phase III trial. According to InvestingPro analysis, AstraZeneca’s stock is currently trading below its Fair Value, suggesting potential upside opportunity for investors interested in the healthcare sector. The trial compared the efficacy of IMFINZI plus chemotherapy against chemotherapy alone in perioperative treatment, highlighting a promising development in the fight against the fifth leading cause of cancer death globally.
The trial, which will continue to follow overall survival (OS) until its final analysis, also previously reported that the IMFINZI combination more than doubled the pathologic complete response rate compared to chemotherapy alone. The positive outcomes from this study signal a potential shift in the standard of care for patients with early-stage and locally advanced gastric or GEJ cancers. This development contributes to AstraZeneca’s strong market position, reflected in its impressive 18% revenue growth over the last twelve months and consistent dividend payments maintained for 33 consecutive years. InvestingPro subscribers can access 8 more key insights about AstraZeneca’s financial health and growth prospects through the platform’s comprehensive Pro Research Report.
Dr. Yelena Y Janjigian, Chief Attending Physician at Memorial Sloan Kettering Cancer Center and principal investigator in the trial, stated that the durvalumab-based regimen demonstrated a clinically meaningful improvement in patient outcomes, including a decreased risk of cancer recurrence.
Cristian Massacesi, Chief Medical Officer at AstraZeneca, emphasized the significance of MATTERHORN as the first Phase III trial of an immunotherapy to show a statistically significant improvement in EFS in this patient population. He also noted the importance of perioperative therapy in potentially impacting patients’ lives.
The safety profile for IMFINZI and the FLOT chemotherapy regimen was consistent with prior knowledge of each medicine, with no new safety findings reported. Detailed results from the MATTERHORN trial will be presented at a forthcoming medical meeting and shared with global regulatory authorities.
This development comes as the number of gastric and GEJ cancer cases is expected to rise, with an estimated 62,000 new diagnoses in the US, European Union, and Japan by 2030. The trial’s findings are based on a press release statement from AstraZeneca. With an EBITDA of $17.57 billion and strong cash flows sufficient to cover interest payments, AstraZeneca maintains a solid financial foundation to support its research and development initiatives. Discover more detailed financial metrics and exclusive insights about AstraZeneca’s growth potential through InvestingPro’s extensive analysis tools and real-time updates.
In other recent news, AstraZeneca has made several notable announcements. The pharmaceutical company reported that top executives, including CEO Pascal Soriot and CFO Aradhana Sarin, received shares through the AstraZeneca Deferred Bonus Plan and Performance Share Plan, reflecting portions of their bonuses and long-term incentives. This aligns executive compensation with the company’s long-term success. Meanwhile, AstraZeneca disclosed its total voting rights, confirming an issued share capital of 1,550,607,175 ordinary shares, with no shares held in Treasury, ensuring all shares are available for shareholder voting.
Additionally, AstraZeneca’s Enhertu has gained a positive opinion from the Committee for Medicinal Products for Human Use, recommending its approval in the EU for certain breast cancer patients. This follows positive results from the DESTINY-Breast06 Phase III trial, which showed a significant reduction in disease progression risk. Furthermore, AstraZeneca announced promising results from its SERENA-6 Phase III trial, where the investigational drug camizestrant, in combination with CDK4/6 inhibitors, improved progression-free survival in advanced breast cancer patients with ESR1 mutations. The company plans to discuss these findings with global regulatory authorities.
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