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AstraZeneca PLC (LSE/STO/Nasdaq:LON:AZN), a global pharmaceutical company with a market capitalization of $220.46 billion and impressive revenue growth of 18% over the last twelve months, announced today that it is discontinuing the CAPItello-280 Phase III clinical trial of Truqap, a drug being tested for metastatic castration-resistant prostate cancer (mCRPC). The decision follows a recommendation from the Independent (LON:IOG) Data Monitoring Committee (IDMC), which after a pre-specified interim analysis concluded that Truqap in combination with docetaxel and androgen-deprivation therapy (ADT) was unlikely to meet the trial’s dual primary endpoints of radiographic progression-free survival (rPFS) and overall survival (OS).
The trial, which had enrolled 1,033 patients, aimed to assess the efficacy and safety of Truqap in comparison to a placebo when both were used alongside docetaxel and ADT. Despite this setback, the safety profile of Truqap was consistent with that observed in previous trials.
AstraZeneca (NASDAQ:AZN) will now focus on assisting investigators with patient follow-up and intends to use data from the trial to inform future research efforts. The company remains committed to advancing its oncology portfolio, which includes ongoing Phase III trials for breast and prostate cancers. With an industry-leading gross profit margin of 82.18% and a "GREAT" financial health score according to InvestingPro, the company maintains strong operational efficiency. For detailed analysis of AstraZeneca’s financial performance, investors can access comprehensive Pro Research Reports available on InvestingPro, covering over 1,400 top stocks.
Truqap, an ATP-competitive inhibitor of all three AKT isoforms, is already approved in the US, EU, Japan, China, and other countries for certain adult patients with hormone receptor-positive, HER2-negative advanced or metastatic breast cancer, following the results from the CAPItello-291 trial.
The termination of the CAPItello-280 trial reflects the challenges in developing treatments for mCRPC, a condition that sees approximately 10-20% of advanced prostate cancer patients develop resistance to castration within five years. Prostate cancer remains the second most prevalent and the fifth leading cause of cancer death among men globally, with over 1.4 million cases and more than 397,000 deaths in 2022.
AstraZeneca, headquartered in Cambridge, UK, is a global biopharmaceutical company that focuses on the discovery, development, and commercialization of prescription medicines. The company’s vision in oncology is to redefine care and one day eradicate cancer as a cause of death. Currently trading below its Fair Value according to InvestingPro analysis, AstraZeneca has maintained dividend payments for 33 consecutive years, demonstrating strong commitment to shareholder returns. Access additional valuable insights and 8 more ProTips about AstraZeneca through an InvestingPro subscription.
This report is based on a press release statement.
In other recent news, AstraZeneca has reported a significant breakthrough in breast cancer treatment with its drug Enhertu, which, when combined with pertuzumab, has shown a notable improvement in progression-free survival for patients with HER2-positive metastatic breast cancer. This development comes from the interim analysis of the DESTINY-Breast09 Phase III trial. Additionally, BNP Paribas (OTC:BNPQY) Exane has initiated coverage on AstraZeneca with an Outperform rating and a price target of GBP115, citing strong leadership and R&D as key factors for future growth.
Tempus AI has formed strategic collaborations with AstraZeneca and Pathos AI to develop a multimodal foundation model in oncology, enhancing drug discovery and patient care, and is set to receive $200 million for data licensing and model development fees. Meanwhile, STAAR Surgical (NASDAQ:STAA) has reshuffled its Board of Directors to focus on enhancing its Asia Pacific operations, appointing Louis E. Silverman and assigning Wei Jiang as a special strategic advisor for the region.
Furthermore, AstraZeneca’s shareholders have approved all resolutions at the company’s Annual General Meeting, including the re-appointment of PricewaterhouseCoopers LLP as the auditor and the authorization for the company to purchase its own shares. The AGM also saw the retirement of board members Deborah DiSanzo and Andreas Rummelt. These recent developments reflect ongoing strategic initiatives and collaborations aimed at advancing growth and innovation.
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