AstraZeneca Abandons Blood Cancer, Cardiovascular Programs Amid Portfolio Prioritization

Earlier today, AstraZeneca plc AZN released Q2 earnings and disclosed the elimination of several pipeline programs. 

On the pipeline side, the company stopped AZD4573, a CDK9 inhibitor, in Phase 2 studies for hematological malignancies. 

The company attributed the decision to stop work in indications including peripheral T-cell lymphoma to its "strategic portfolio prioritization."

The second quarter clearout also affected a phase 1 hematologic cancer program. After assessing the benefit-risk profile, AstraZeneca stopped a pair of AZD0466 phase 1/2 blood cancer clinical trials. AZD0466 is a BCL-22/XL inhibitor.

AstraZeneca is also ending the development of a Phase 1 asset, AZD3366, in cardiovascular disease.

Citing AstraZeneca CEO Pascal Soriot, Reuters reported the company is "very encouraged" by interim data from a key lung cancer drug trial reported earlier this month.

But the CEO did not explain why the company had not declared results "clinically meaningful" for the TROPION-Lung01 Phase 3 trial of datopotamab deruxtecan in patients with locally advanced or metastatic non-small cell lung cancer.

At the time, investors were disappointed the company did not say the data was "clinically meaningful," a potential suggestion that the benefits may not be as pronounced as hoped.

Soriot said people would understand when full results are released why the company did not use that description, but he did not comment further.

"We are very encouraged because we're seeing the totality of the data," he said, adding that the company had described them as "statistically positive."

The company said it would continue with its plan to file data from the trial with the FDA, soothing some investor concerns.

Price Action: AZN shares are up 4.36% at $71.11 on the last check Friday.