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Home/News Feed/AstraZeneca shares drop 6% after key drug trial failure, Ionis falls 20%

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$157.91

-$0.84 -0.53%

AstraZeneca shares drop 6% after key drug trial failure, Ionis falls 20%

Market News

09 Jul 2026

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Bearish

AstraZeneca PLC shares fell over 6% following the failure of Wainua (eplontersen) in its Phase 3 ATTR-CM trial, which represents a significant lost revenue opportunity. Ionis Pharmaceuticals, which developed eplontersen and stands to earn royalties, saw its stock drop more than 20%. This setback creates an estimated $15 billion gap in AstraZeneca's $80 billion 2030 revenue target, though the company’s strong oncology pipeline offers some resilience. Despite this, the analyst maintains a Buy rating on AstraZeneca, expecting a potential 30% share price increase by 2030, while Ionis faces a sharper impact but retains long-term growth prospects due to its diversified pipeline.

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