U.K.-based drugmaker AstraZeneca’s (NASDAQ:AZN) metastatic non-small cell lung cancer treatment, which is a combination of Imjudo and Imfinzi along with platinum-based chemotherapy, has been approved by the U.S. Food and Drug Administration (FDA).
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Positive results of the POSEIDON phase 3 trial supported the regulator’s approval. Under this trial, the patients received treatment until the disease progressed or reached an unacceptable toxicity level.
Further, in comparison to patients treated with a range of chemotherapy options, patients given the above-mentioned combined treatment showed a 23% lower death risk. Also, the approved treatment witnessed an estimated 33% survival rate at two years against 22% in patients with just chemotherapy.
What is the Target Price for AZN Stock?
The average AstraZeneca price target of $75 implies an upside potential of 15.23%. AZN stock has a Moderate Buy consensus rating based on one Buy.
For the U.K.-listed AstraZeneca (LSE:AZN) stock, analysts are cautiously optimistic, with a Moderate Buy consensus rating based on nine Buys, five Holds and one Sell.
