AstraZeneca Delivers Positive Data for DESTINY-Breast04 Trial

AstraZeneca Plc (AZN) has reported data from the Phase III trial of a breast cancer drug, Enhertu. The results reflect that patient suffering from HER2-low unresectable and/or metastatic breast cancer survived for longer periods with this drug.

The drug has been jointly developed by AstraZeneca and Daiichi Sankyo. Enhertu is a HER2-directed antibody-drug conjugate (ADC).

The DESTINY-Breast04 trial has been designed to evaluate the efficacy and safety of Enhertu in comparison to physicians’ choice of chemotherapy in patients with HR-positive or HR-negative HER2-low unresectable and/or metastatic breast cancer. Patients were randomised 2:1 to receive either Enhertu or chemotherapy.

The Executive Vice-President, Oncology R&D, AstraZeneca, Susan Galbraith, said, “These results for Enhertu are a huge step forward and could potentially expand our ability to target the full spectrum of HER2 expression, validating the need to change the way we categorise and treat breast cancer.”

The drug has been approved in more than 40 countries for the treatment of adult patients with unresectable or metastatic HER2-positive breast cancer. Also, it is being further assessed in a comprehensive clinical development programme evaluating efficacy and safety across multiple HER2-targetable cancers, including breast, gastric, lung and colorectal cancers.

Stock Rating

Recently, Leerink Partners analyst Andrew Berens maintained a Buy rating on AstraZeneca with a price target of $65 (upside potential of 8.6% from current levels).

The stock has a Moderate Buy consensus rating based on 1 Buy and 2 Holds. The average AstraZeneca price target stands at $65 and implies upside potential of 8.6% to current levels.

Positive Sentiment

TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on AstraZeneca, as 15.3% of investors on TipRanks increased their exposure to AZN stock over the past 30 days.

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