Yahoo Finance AstraZeneca (AZN) to Discontinue Two Studies on Lokelma
AstraZeneca PLC AZN announced that it plans to discontinue an outcomes study and a chronic kidney disease (CKD) study on its hyperkaliemia (HK) drug, Lokelma.
Lokelma is approved in several countries across the globe for the treatment of HK in adults, including patients with end-stage kidney disease and hemodialysis. HK is a severe condition characterized by high levels of potassium in the blood and Lokelma is a highly selective, oral potassium-removing agent.
The phase III evidence studies — STABILIZE-CKD and DIALIZE-Outcomes — that are planned to be discontinued are part of AstraZeneca’s CRYSTALIZE evidence program.
The company decided to stop the studies mentioned above owing to the substantially increased timeline of enrollment and low event rates, which prohibited the timely delivery of data from the study to advance clinical practice meaningfully. However, the decision to discontinue the study is not due to safety concerns for Lokelma.
Shares of AstraZeneca have lost 4.7% so far this year against the industry’s growth of 4.3%.
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We note that the double-blind, placebo-controlled phase III STABILIZE-CKD study assessed the effect of Lokelma as an adjunct to optimized RAASi therapy on CKD progression in patients with CKD and HK or who are at risk of HK.
The double-blind, placebo-controlled phase III DIALIZE-Outcomes study evaluated the effect of Lokelma on arrhythmia-related cardiovascular outcomes in patients on chronic hemodialysis with recurrent HK.
Zacks Rank & Stocks to Consider
AstraZeneca currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are CytomX Therapeutics, Inc. CTMX, Entrada Therapeutics, Inc. TRDA and Puma Biotechnology, Inc. PBYI, sporting a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Earnings of CytomX Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. CTMX delivered a four-quarter average earnings surprise of 45.44%.
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Earnings of Entrada Therapeutics beat estimates in three of the last four quarters while missing the same on the remaining occasion. TRDA delivered a four-quarter average earnings surprise of 70.68%.
In the past 60 days, estimates for Puma Biotechnology’s 2023 earnings per share have improved from 67 cents to 73 cents. During the same period, earnings per share estimates for 2024 have moved up from 55 cents to 62 cents. Year to date, shares of PBYI have lost 7.8%.
Earnings of Puma Biotechnology beat estimates in three of the last four quarters while missing the same on the remaining occasion. PBYI delivered a four-quarter average earnings surprise of 76.55%.
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