LONDON (Reuters) - AstraZeneca Plc's experimental stroke drug NXY-059 failed to meet its goal in a pivotal Phase III clinical trial, dealing a fresh blow to the group's already depleted new product pipeline.
The medicine will now be dropped from development, the company said on Thursday, overshadowing what analysts expect to be a strong set of third-quarter results due at 1000 GMT and sending its shares down around 3.5 percent in early trade.
The so-called SAINT II study was designed to show a reduction in disability in patients following an acute ischemic stroke. In the event there was no statistically significant difference among patients given either NXY-059 or placebo.