Having pinned such high hopes on the success of cancer drug durvalumab, bad news was bound to hit AstraZeneca's (AZN) share price hard. Last week the company was forced to announce that it had halted clinical trials into the use of the drug in head and neck cancer after concerns surrounding patient bleeding.
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But the US Food and Drug Administration has just put the trial on partial hold, while Astra submits an analysis of the unexpected side effects, and management remains confident that patient enrolment will restart imminently. Trials into the use of the drug in lung and bladder cancer are ongoing, with the first data read-outs expected in the first half of next year.