Key Takeaways A breast cancer drug being developed by AstraZeneca failed to "achieve statistical significance" in helping patients live longer than with chemotherapy in a phase 3 trial.The trial included over 700 patients with inoperable or metastatic breast cancer.

AstraZeneca stock slumped Monday after its Daiichi Sankyo-partnered drug missed its mark in a study of patients with breast cancer.

AstraZeneca released results from the TROPION-Breast01 Phase 3 trial of datopotamab deruxtecan, showing no statistically significant improvement in overall survival. The trial met its progression-free survival endpoint,

London-listed AstraZeneca shares fell more than 5% on Tuesday after results from the company's lung cancer trials showed that its experimental precision drug did not significantly improve overall survival results for patients.

Biopharmaceutical stock AstraZeneca PLC (NASDAQ:AZN) is 1.3% lower before the open, after a bear note from Deutsche Bank. The analyst downgraded AZN to "sell" from "hold" and lowered its price target, pointing to the company's results from a lung cancer trial that showed its experimental precision drug did not improve overall survival.

A new AstraZeneca drug has failed to extend significantly the lives of breast cancer patients in a blow to the company’s ambitions to hit an $80bn revenue target by 2030. Datopotamab deruxtecan (Dato-DXd) is a new form of cancer treatment,

AstraZeneca said on Monday its experimental precision drug developed with Daiichi Sankyo did not significantly improve overall survival for patients with a type of breast cancer in a late-stage trial.