Why AstraZeneca Stock Is Trading Higher Today

AstraZeneca AZN shares are trading higher after the company announced lynparza PROpel trial met the primary endpoint in metastatic castration-resistant prostate cancer.

"We are encouraged by the PROpel results and the clinical benefit LYNPARZAin combination with abiraterone demonstrated versus abiraterone alone as a 1st-line treatment option for men with metastatic castration-resistant prostate cancer. Today's results build on Merck MRK and AstraZeneca's commitment to bring LYNPARZA earlier in lines of treatmentand to more patients with advanced prostate cancer," said Roy Baynes, Senior Vice President and Head of Global Clinical Development, Chief Medical Officer, Merck.

The firm sells branded drugs across several major therapeutic classes, including gastrointestinal, diabetes, cardiovascular, respiratory, cancer, and immunology. 

AstraZeneca has a 52-week high of $60.93 and a 52-week low of $46.48.