Astrazeneca PLC (AZN)

Astrazeneca PLC Stock (AZN) dropped by 5.82% from $69.28 to $65.24 in the trading on Wednesday October 18, 2023. The reason why AZN stock down today is due to ** drug trial data abstract**. The data abstract on its experimental precision drug's use in lung cancer patients in a late-stage trial disappointed some analysts. Jefferies analyst Stephen Barker said in a note the data was "worse-than-expected", citing the drug only improved the time patients with non-small cell lung cancer live without their disease worsening by 0.7 months compared to chemotherapy. Barker said he was expecting an improvement of 1.5-2 months.

AstraZeneca PLC's stock fell 8.83% as mixed trial results raised investor concerns. While the trial showed improvement in non-small cell lung cancer patients, it failed to meet the statistical significance threshold for overall survival rates. Additionally, deaths occurred during the study and it is uncertain whether the drug contributed to those fatalities.

https://www.fool.com/investing/2023/07/03/these-were-mondays-2-stock-movers-that-investors-c/