AstraZeneca announced this morning that its long running MYSTIC lung cancer trail suffered a serious setback this morning. The phase III study failed to meet the primary end point of improving progression-free survival compared to chemotherapy, the current standard of care.
The company did day that the real focus should be on the overall survival data due out next year. A lot of investors were hoping for a positive results on the project as many thought this would be the answer to the drug makers current issues.
As of 8:12am the stock was trading down c.16.1%at c.4278.00