Astrazeneca Plc Stock Price, News & Analysis

AstraZeneca has pledged $3.5 million to nonprofit organizations across the US through its Accelerate Change Together (ACT) on Health Equity initiative, bringing total contributions to over $15 million. The program will fund 53 nonprofit programs, including 45 local organizations receiving $30,000 each and eight national nonprofits sharing $2.15 million. The initiatives focus on improving healthcare access, addressing social determinants of health, advancing chronic disease care, and expanding STEM education in underserved communities. The funding supports programs targeting asthma, cardiovascular disease, COPD, heart failure, lupus, and oncology.

GRAIL announced the first patient testing in the global TROPION-Lung12 Phase 3 study using their Non-Small Cell Lung Cancer (NSCLC) ctDNA Assay. The study, conducted under FDA approval, evaluates adjuvant treatments in Stage I adenocarcinoma NSCLC patients. The trial is sponsored by AstraZeneca in collaboration with Daiichi Sankyo.

GRAIL's blood-based methylation platform detects ctDNA without requiring tissue analysis, streamlining integration into clinical trials. Patients will be screened pre-surgery to determine eligibility for post-surgery treatment. This marks one of the first uses of ctDNA assay in early-stage lung cancer trials to identify patients who may benefit from additional treatment.

AstraZeneca reported strong financial results for 9M 2024, with Total Revenue up 19% to $39,182m and Core EPS increasing 11% to $6.12. Product Sales grew 19%, with significant growth across all therapeutic areas: Oncology (22%), CVRM (21%), R&I (24%), and Rare Disease (14%). The company maintained a Core Product Sales Gross Margin of 82% and Core Operating Margin of 32%. Based on strong performance and increased confidence in achieving sales milestones, AstraZeneca upgraded its FY 2024 guidance, now expecting high teens percentage growth for both Total Revenue and Core EPS.

AstraZeneca announces a $3.5 billion capital investment in the United States to expand its research and manufacturing footprint by 2026. The investment includes $2 billion of new funding that will create over 1,000 high-skilled jobs. The expansion encompasses a new R&D centre in Cambridge, Massachusetts, biologics manufacturing in Maryland, cell therapy facilities on both coasts, and specialty manufacturing in Texas. This investment is part of AstraZeneca's strategy to achieve $80 billion in Total Revenue by 2030. The US currently represents 44% of AstraZeneca's Total Revenue, making it the company's largest market with 17,800 employees across 17 sites in 12 states.

Daiichi Sankyo and AstraZeneca have submitted a new Biologics License Application (BLA) for accelerated approval of datopotamab deruxtecan to treat adult patients with locally advanced or metastatic EGFR-mutated non-small cell lung cancer (NSCLC) who have received prior therapies. The application is based on the TROPION-Lung05 phase 2 trial, supported by additional trial data. The companies have withdrawn their previous BLA for nonsquamous NSCLC following FDA feedback. New results from a pooled analysis of patients with previously treated EGFR-mutated NSCLC will be presented at ESMO Asia 2024. The companies are conducting additional phase 3 trials evaluating the treatment alone and in combination with osimertinib.

ENHERTU, a HER2-directed antibody drug conjugate (ADC) jointly developed by Daiichi Sankyo and AstraZeneca, has received the prestigious 2024 Prix Galien USA Award for Best Biotechnology Product. The award, considered the industry's Nobel Prize equivalent, recognizes ENHERTU's contribution to redefining metastatic breast cancer treatment and its breakthrough as the first tumor-agnostic approval for HER2 positive solid tumors in the U.S. The Prix Galien USA Award winners are selected by a committee of renowned scientists and clinicians, acknowledging the most impactful FDA-approved treatments within the past five years.

AstraZeneca and Amgen's TEZSPIRE demonstrated positive results in the Phase III WAYPOINT trial for chronic rhinosinusitis with nasal polyps (CRSwNP). The trial showed statistically significant and clinically meaningful reduction in nasal polyp size and nasal congestion compared to placebo. The study evaluated TEZSPIRE's efficacy and safety when administered subcutaneously to adults with severe CRSwNP who remained symptomatic despite standard treatment. The safety profile was consistent with previous findings. TEZSPIRE is currently approved for severe asthma treatment in the US, EU, Japan, and nearly 60 countries globally.

AstraZeneca will present new data across its hematology portfolio at the 66th American Society of Hematology Annual Meeting in December 2024. The company will showcase 57 abstracts featuring 13 approved and potential new medicines. Key highlights include:

- First results from AMPLIFY Phase III trial for CALQUENCE in frontline chronic lymphocytic leukemia
- New data for AZD0486 showing high response rates in lymphoma patients
- Long-term data for VOYDEYA as add-on therapy showing low breakthrough hemolysis rates
- Early results for AZD0120, a novel CAR T cell therapy for multiple myeloma

Daiichi Sankyo and AstraZeneca have initiated three global Phase 3 trials evaluating datopotamab deruxtecan (Dato-DXd) combinations in advanced nonsquamous non-small cell lung cancer (NSCLC). The trials include: TROPION-Lung10 testing Dato-DXd plus rilvegostomig in high PD-L1 expression patients; TROPION-Lung14 evaluating Dato-DXd plus osimertinib in EGFR mutated NSCLC; and TROPION-Lung15 studying Dato-DXd with/without osimertinib in EGFR mutated NSCLC that progressed on osimertinib. These trials are part of the expanding TROPION program, which now includes seven Phase 3 trials.