AstraZeneca lung cancer immunotherapy trial failure sends shares plunging

STAT News -------- A highly anticipated clinical trial combining two immunotherapy drugs failed to delay tumor growth in patients with newly diagnosed lung cancer, sending AstraZeneca sharply lower Thursday. The negative results from the so-called MYSTIC study are a stinging setback to AstraZeneca’s ambition to leapfrog over its cancer immunotherapy rivals. Three years ago, AstraZeneca CEO Pascal Soriot rebuffed a $117 billion takeover offer from Pfizer, insisting the Anglo-Swedish drug maker’s pipeline would succeed on its own. On Thursday, AstraZeneca shares plunged 16 percent to $28.60 on investor fears that Soriot’s promise is coming up empty. To learn more click on the picture below to read the article.