AstraZeneca stock jumps 4% after surprise trial win for lung disease drug where rivals have failed

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AstraZeneca

’s stock jumped as much as 4% after Britain’s most valuable company said its experimental lung disease medicine met its target in two late-stage clinical trials.

The respiratory treatment Tozorakimab, reduced flare-ups of chronic obstructive pulmonary disease in both former smokers and in the overall population versus placebo, the company said.

“This marks a notable shift in sentiment, given limited conviction in the IL-33 mechanism following prior IL-33 failures from Sanofi