AstraZeneca stock popped to a three-month high Tuesday after the company touted a previously unheard-of result for its Daiichi Sankyo-partnered breast cancer treatment, Enhertu.
The results could open up a new treatment option for roughly 55% of patients whose breast cancer isn't tied to high levels of a specific protein. Susan Galbraith, AstraZeneca's executive vice president of oncology research and development, called the results "historic."
Enhertu works by targeting HER2, the gene responsible for making a protein found on the surface of breast cells. Typically, drugs in this class only work in patients with a high level of that protein. But this test showed Enhertu might work in patients with a low level of that protein.
"A HER2-directed therapy has never before shown a benefit in patients with HER2-low metastatic breast cancer," she said in a written statement. "These results for Enhertu are a huge step forward and could potentially expand our ability to target the full spectrum of HER2 expression, validating the need to change the way we categorize and treat breast cancer."
On today's stock market, AstraZeneca stock jumped 1.6% to 60.81.
AstraZeneca Stock: Cancer Drug Shows Promise
AstraZeneca tested Enhertu in patients with low levels of the protein. Patients showed improvement in progression-free survival — the amount of time they lived without worsening — and overall survival. In both cases, Enhertu recipients outperformed patients who received standard drugs. That helped prod AstraZeneca stock higher.
The results were statistically significant, AstraZeneca said in a news release. Further, there were no new safety issues.
The company estimates up to 55% of patients have low to untraceable levels of the targeted protein. Treatment options for those patients are limited. Patients with low protein levels can receive a hormone therapy followed by chemotherapy. Patients with none of that protein can only get chemo.
The results pushed AstraZeneca stock to its highest point since November. Shares are forming a cup base with a buy point at 64.31, according to MarketSmith.com.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
