AstraZeneca's Stock Drops on Wainua's Setback in ATTR-CM Study

Earnings Impact 4
โดย Zacks Investment Research·Read original
Summary · why it matters

AstraZeneca shares fell nearly 8% in pre-market trading after the company announced that a phase III study of Wainua failed to meet its primary endpoint in patients with transthyretin-mediated amyloid cardiomyopathy. The CARDIO-TTRansform study did not show a statistically significant benefit for Wainua added to standard of care compared to placebo on the composite outcome of cardiovascular mortality and recurrent cardiovascular clinical events. Ionis Pharmaceuticals, which co-develops the drug, saw its stock slump 19%. Wainua is already approved for polyneuropathy of hereditary transthyretin-mediated amyloidosis, and success in the larger ATTR-CM market had been expected to significantly expand its commercial opportunity. Following the setback, shares of rivals Alnylam Pharmaceuticals and BridgeBio Pharma rose about 18% and 11%, respectively, as their ATTR-CM therapies Amvuttra and Attruby are already on the market.

Impact on stocks 4

Biotech & Genomic Medicine± Mixed · 4 stocks
AstraZeneca PLC
AZN
▼ NegativeTechnologyrelevance

Phase III study of Wainua failed primary endpoint in ATTR-CM.

BridgeBio Pharma Inc
BBIO
▲ PositiveCompetitionrelevance

Rival's ATTR-CM drug failed, boosting BridgeBio's Attruby competitive position.

Theme Impact 2

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