AstraZeneca and MedImmune, its global biologics research and development arm, said Monday that the US Food and Drug Administration (FDA) approved Imfinzi for the treatment of Stage III unresectable non-small cell lung cancer. Imfinzi (durvalumab) is a human monoclonal antibody that binds to PD-L1 and blocks the interaction of PD-L1 with PD-1 and CD80, countering the tumour’s immune-evading tactics and releasing the inhibition of immune responses. The approval of Imfinzi was based on the positive PFS data from the Phase III PACIFIC trial. Dave Fredrickson, Executive Vice President, Head of the Oncology Business Unit at AstraZeneca, said: ‘The approval of Imfinzi in this earlier stage of non-small cell lung cancer is a truly meaningful milestone for patients who, until now, had no FDA-approved treatment options following chemoradiation therapy.’ ‘Globally, approximately 30% of patients with NSCLC present with Stage III disease and we are excited to launch the first immunotherapy into this setting.’ Story provided by StockMarketWire.com
Now that we?re past the ex dividend date and it?s associated drop in the share price I?d have hoped for a better reaction to this news or am I reading it wrong?