Why Are AstraZeneca Shares Trading Higher Today

Adding AstraZeneca Plc's AZN Lynparza to Johnson & Johnson's JNJ Zytiga (abiraterone) extended the time to live without disease progression in patients with newly diagnosed metastatic, castration-resistant prostate cancer (mCRPC) with or without homologous recombination repair (HRR) gene mutations.

• The Lynparza combination pared down that risk by 34% over Zytiga alone, according to phase 3 data released at the American Society of Clinical Oncology Genitourinary Cancers Symposium (ASCO GU). 
• The Lynparza combo added more than eight months to patients' time to disease progression or death, reaching a median of 24.8 months versus 16.6 months for the control group.
• Related: AstraZeneca-Merck's Lynparza Under FDA Priority Review For Breast Cancer Setting.
• AZ and Merck designed the 796-patient phase 3 PROpel trial for all patients independent of HRR status.
• Results also showed a favorable trend towards improved overall survival (OS) with Lynparza plus abiraterone versus abiraterone alone. 
• Also See: AstraZeneca Records Bumper COVID-19 Vaccine Sales Of ~$4B In FY21.
• However, the difference did not reach statistical significance at this data cut-off (analysis at 29% data maturity). The trial will continue to assess OS as a key secondary endpoint.
• In July 2017, AstraZeneca and Merck & Co Inc MRK announced an oncology collaboration to co-develop and co-commercialize Lynparza and Koselugo (selumetinib) for multiple cancer types.
• Price Action: AZN shares are trading 4.08% at $59.89, MRK shares are up 1.89% at $77.92 during the market session on the last check Tuesday.