Key Stats for AstraZeneca Stock
- Price change for AstraZeneca stock: -6%
- $AZN Stock Price as of Jul. 9: $93
- 52-Week High: $97
- $AZN Stock Price Target: $101
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What Happened?
AstraZeneca (AZN) stock dropped as much as 6% after a late-stage trial of its heart disease drug Wainua failed to meet its primary endpoint. The drug was being tested to see if it could reduce deaths and recurring heart-related emergencies in patients with a rare, life-threatening heart condition over 140 weeks, compared to a placebo. It didn’t.
The condition being studied is called transthyretin-mediated amyloid cardiomyopathy, or ATTR cardiomyopathy. It happens when misfolded proteins accumulate in the heart muscle, stiffening it and eventually leading to heart failure. Roughly half a million people worldwide are estimated to live with this condition.
Here’s the key detail behind the miss: most patients in the study, 57%, were already on a separate stabilizer drug at the start of the trial, with another 24% starting one during the study.
Since these patients already had some protection against the disease, adding Wainua on top of that existing treatment didn’t show a clear extra benefit for the overall group.
For patients who weren’t on a stabilizer, Wainua showed a “nominally significant” reduction in deaths and heart events versus placebo, but that wasn’t enough to offset the overall trial result.
Jefferies analysts said this trial failure doesn’t threaten AstraZeneca’s $80 billion sales target for 2030. But they pointed to something arguably more damaging: AstraZeneca’s credibility.
The company had been very confident going into this trial of hitting its main goal and demonstrating benefit, even when added to existing treatments.
Jefferies now expects $2.5 billion less in risk-adjusted sales from the drug and said investors may pause on AstraZeneca stock until the company’s next major trial catalyst, results from its AVANZAR lung cancer study, comes through.
Citi analysts added that AstraZeneca likely can’t pursue additional approvals for Wainua given the primary endpoint miss, especially since rival Alnylam’s drug Amvuttra is already approved and on the market.
Importantly, Wainua’s existing approval for other conditions involving misfolded proteins isn’t affected by this trial result. The drug is sold in Europe under the name Wainzua.
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What the Market Is Telling Us About AstraZeneca Stock
This result reshuffles the competitive landscape for ATTR cardiomyopathy treatment.
Alnylam’s Amvuttra is now the only “silencer” drug proven to work, giving it what one analyst called a monopoly in that specific approach.
That’s why Alnylam and BridgeBio shares jumped today while AstraZeneca stock and Ionis both fell sharply.
Under CEO Pascal Soriot, AstraZeneca has built a reputation over the past 14 years for rarely reporting negative trial results, especially in oncology.
That track record is part of why today’s miss stings more than the dollar figures alone suggest.
Full trial data will be presented at the European Society of Cardiology conference in August, which should give investors a clearer picture of what went wrong and what it means for the future.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
