AstraZeneca has halted a clinical trial for its experimental lung cancer drug, Volrustomig, after determining the treatment, when used with chemotherapy, was unlikely to extend patient survival compared to existing therapies. The decision marks another setback for the pharmaceutical company and its chief executive Pascal Soriot, whose tenure has recently faced challenges with other drug developments and speculation about a potential merger.
The company announced the trial's discontinuation, citing that the combination of Volrustomig and chemotherapy did not show sufficient promise for lung cancer patients. AstraZeneca stated it will continue investigating Volrustomig for other cancer types, including cervical cancer, head and neck squamous cell carcinoma, and mesothelioma.
This latest development follows previous disappointments, including unexpected failures with the heart disease drug Wainua and the rare disease treatment Ultomiris, as well as the rejection of the breast cancer drug Camizestrant by U.S. regulators. These pipeline concerns emerged as Soriot aimed to reassure investors following market reactions to potential merger talks with rival Bristol Myers Squibb.
Despite the setback, AstraZeneca also reported positive outcomes from two other late-stage lung cancer trials. The company's Enhertu treatment demonstrated a significant improvement in progression-free survival for patients with non-small cell lung cancer. Additionally, results from a trial combining Tagrisso with Orpathys reinforced Tagrisso's position as a foundational therapy for another form of lung cancer.
AstraZeneca shares saw a slight increase of 0.9 percent but remain down 15 percent year-to-date. Analysts noted that while the stock showed signs of recovery, the Volrustomig trial's outcome is a reminder of the inherent risks in the company's growth strategy. Rebuilding investor confidence, they suggested, will require further positive clinical developments.