AstraZeneca drops 9% after Wainua heart trial fails main goal
Why it matters: The setback clouds AstraZeneca's push in ATTR cardiomyopathy, while partner Ionis fell 19% and analysts flagged a hit to investor trust.
AstraZeneca shares slid nearly 9% on Thursday after its late-stage trial of Wainua in a rare heart disease missed the study's primary endpoint. The drug failed to reduce deaths and recurrent heart-related emergencies over 140 weeks versus placebo in patients with transthyretin-mediated amyloid cardiomyopathy, or ATTR cardiomyopathy, when added to existing treatment. The company said the results do not affect Wainua's current license for treating nerve-damaging forms of the disease. Analysts at Jefferies said the bigger risk may be damage to management credibility after strong confidence around the trial. Ionis Pharmaceuticals, which co-develops Wainua in the US, fell 19%, while AstraZeneca weighed on London's FTSE 100.