AstraZeneca, Daiichi Sankyo claim PhIII lung cancer win for their next big ADC — but shares fall

As­traZeneca and Dai­ichi Sankyo’s multi­bil­lion-dol­lar an­ti­body-drug con­ju­gate al­liance has gen­er­at­ed a Phase III win, the part­ners say, beef­ing up the case that they have a broad­ly ap­plic­a­ble lung can­cer drug in the pipeline.

But a vague men­tion of pa­tient deaths and the ab­sence of more en­thu­si­as­tic lan­guage is spurring ques­tions and has cast a shad­ow on the os­ten­si­bly pos­i­tive topline re­sults. As­traZeneca shares $AZN trad­ed down about 6% both on the Lon­don stock ex­change and pre­mar­ket on the Nas­daq.

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