On July 9, AstraZeneca fell 7.83% in regular trading, trading at $174.35/share, with turnover of $170 million. The decline was triggered by the failure of its heart disease drug Wainua (eplontersen) to meet the primary efficacy endpoint in a Phase 3 clinical trial.

Wainua, co-developed with Ionis Pharmaceuticals, was being tested for transthyretin-mediated amyloid cardiomyopathy (ATTR-CM). The primary endpoint was a composite outcome of cardiovascular mortality and recurrent cardiovascular clinical events up to week 140 compared with placebo. The trial found that adding eplontersen to standard of care, including stabilizer therapy, did not provide a statistically significant benefit. Ionis shares plunged over 20% on the same news. AstraZeneca and Ionis plan to continue analyzing the full dataset and present detailed results at the European Society of Cardiology Congress in August.

The broader pharmaceutical sector remained stable, with Eli Lilly up 0.65%, Pfizer up 0.19%, and Johnson & Johnson down 0.22%, confirming the decline as a stock-specific event rather than sector-wide weakness.

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