AstraZeneca stock jumps 4% after surprise trial win for lung disease drug where rivals have failed
AstraZeneca‘s stock jumped as much as 4% after Britain’s most valuable company said its experimental lung disease medicine met its target in two late-stage clinical trials.
The respiratory treatment Tozorakimab, reduced flare-ups of chronic obstructive pulmonary disease in both former smokers and in the overall population versus placebo, the company said.
“This marks a notable shift in sentiment, given limited conviction in the IL-33 mechanism following prior IL-33 failures from Sanofi and Roche,” said Jefferies analysts.
Tozorakimab and rival drugs belong to a class of treatments called monoclonal antibodies. They work by suppressing the action of the protein interleukin-33 (IL-33) and can reduce inflammation.
London-listed shares were last seen up 3.5% in midday trading, contrasting with the UK’s FTSE 100 index which fell 0.6%.
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