AstraZeneca has published an update on its cancer drug Friday morning.

AstraZeneca and Medlmmune, its global biologics research and development arm, said that data showed its cancer treatment failed to meet its primary objective. The primary objective of the trial was to improve overall survival compared with the standard of care.

The trial aimed to examine the efficiency of Imfinzi monotherapy and the Imfinzi and tremelimumab combination in previously-untreated patients with Stage IV non-small cell, inoperable lung cancer. However, data shows that the cancer treatment did not improve overall survival, which is one of the key metrics measured by the trial.

AstraZeneca has an abundance of experience in oncology. Indeed, the biopharmaceutical company boasts an impressive portfolio of innovative treatments. Between 2014-2020, the company has planned to launch six new medicines in this field. Equally, the company has a committed focus on lung, ovarian, breast and blood cancer medicines.

In addition to its commitment to oncology, the company also focuses on cardiovascular, renal and metabolism and respiratory treatments.

AstraZeneca currently operates in over 100 countries and its treatments are impacting the lives of millions.

Executive Vice President, Global Medicines Development and Chief Medical Officer, Sean Bohen, commented on the failed treatment:

“We are encouraged to see that Imfinzi monotherapy activity is in-line with that of the anti-PD-1 class in previously-untreated patients with Stage IV non-small cell lung cancer; however, we are disappointed that these results missed statistical significance. We remain confident in Imfinzi as the cornerstone of our IO programme and continue to evaluate its potential in ongoing non-small cell lung cancer trials, including Imfinzi and Imfinzi plus tremelimumab in combination with chemotherapy.”

Earlier this week, AstraZeneca announced that it will sell its US rights to its respiratory tract infection treatment to a Swedish company. Moreover, it also sold the rights to its acid-reflux medicine Grunenthal at the end of last month. Furthermore, it recently published its third quarter earnings and outlines a Brexit contingency plan.

At 12:42 GMT today, shares in AstraZeneca plc (LON:AZN) were trading at -3.09%.

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