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AstraZeneca said it is ending a late-stage trial that combined one of its key experimental \u200cdrugs with chemotherapy to treat a certain type of lung cancer, extending a run of setbacks that has deepened scrutiny of the drugmaker\u2019s development pipeline.<\/strong><\/p>\n Investor confidence in the British drugmaker has been dented by a series of blows, including the surprise failure of Wainua in a late-stage heart disease trial, the rejection of breast \u200bcancer drug camizestrant by a U.S. regulatory panel on trial design grounds, and a late-stage failure for rare disease drug Ultomiris.<\/p>\n The latest \u200bdecision followed a recommendation from an independent data monitoring committee, which found AstraZeneca\u2019s volrustomig drug, when combined \u2060with chemotherapy, was unlikely to help patients live longer or keep their disease from worsening compared with rival Merck\u2019s blockbuster immunotherapy Keytruda \u200bplus chemotherapy.<\/p>\n SHARES UP AFTER POSITIVE FINDINGS ELSEWHERE<\/strong><\/p>\n Separately, however, AstraZeneca reported positive readouts from two other late-stage lung cancer trials, with its Tagrisso-Orpathys combination \u200band the Daiichi Sankyo-partnered Enhertu both meeting key goals.<\/p>\n That helped lift AstraZeneca\u2019s shares, which have shed more than 16% of their value this year, by nearly 1%.<\/p>\n The discontinued trial, which accounted for about 20% of the drug\u2019s peak sales estimate, does not impact the company\u2019s $80 billion sales ambition by 2030, a company \u200bspokesperson said.<\/p>\n AstraZeneca had previously predicted more than $5 billion in peak sales from volrustomig.<\/p>\n MORE IMPORTANT DATA<\/strong><\/p>\n Citi analyst Graham Parry said in a note the \u200bloss from the discontinued trial could potentially be offset by ongoing Phase III trials for volrustomig in other indications.<\/p>\n Other Phase III trials of the drug \u200cin treating \u2060cervical cancer, head and neck squamous cell carcinoma and mesothelioma will continue as planned, the company said.<\/p>\n Shares in AstraZeneca also took a hit earlier this month after media reports of merger talks with U.S. rival Bristol Myers Squibb BMY.N.<\/p>\n Markus Manns, portfolio manager at Union Investment, an AstraZeneca shareholder, said the mixed readouts were \u201cincremental\u201d to AstraZeneca\u2019s investment story, as all three studies were in small indications.<\/p>\n \u201cUpcoming Avanzar and Serena-4 data are \u200bfar more important and the \u200bmarket has still to fully \u2060digest the implications from the recent Astra-Bristol rumours,\u201d he added.<\/p>\n COMPANY TARGETS 20 NEW DRUG LAUNCHES<\/strong><\/p>\n AstraZeneca stood by its forecasts in July, including its target of $80 billion in annual revenue by 2030, expressing confidence that the \u200brecent setbacks had not undermined its long-term prospects.<\/p>\n The company, which also in July topped second-quarter profit expectations \u200bon strong demand \u2060for its cancer and rare disease therapies, is counting on up to 20 new drug launches to help reach that target.<\/p>\n \u201cWhile we are disappointed, we will learn from this trial,\u201d said Susan Galbraith, AstraZeneca\u2019s executive vice president for oncology haematology R&D.<\/p>\n The company said the safety profile of volrustomig \u2060in combination \u200bwith chemotherapy was consistent with the known profiles of the individual medicines, with no \u200bnew safety signals identified.<\/p>\n Volrustomig is a dual checkpoint inhibitor bispecific antibody designed to unblock two key immune pathways, PD-1 and CTLA-4, to help the immune system attack tumours.<\/p>\n<\/div>\n