AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) drew praise from Deutsche Bank for tozorakimab's lung disease data, but the broker paired its positive assessment with a bearish verdict on the shares.
Behind the positive assessment were detailed OBERON and TITANIA results for tozorakimab in chronic obstructive pulmonary disease, presented at the ERS conference.
Reviewing those findings alongside feedback from AstraZeneca's investor call, analyst Emmanuel Papadakis said the data impressed despite minor caveats and supported the drug's commercial prospects.
The findings followed headline results in March and the drugmaker's decision to raise peak sales guidance above $5 billion alongside second-quarter results.
Against this backdrop, consensus sales forecasts stand around $4 billion for 2030 and beyond, leaving room for modest upward revisions, the note said.
Alongside the respiratory data, Papadakis highlighted positive headline findings from a niche Imfinzi study in small cell lung cancer maintenance treatment.
Taken together, the broker judged the developments a minor positive for AstraZeneca, with the Imfinzi update supporting the stronger tozorakimab assessment.
The next financial catalyst is whether consensus sales estimates move higher as analysts absorb the detailed COPD findings and reassess tozorakimab's peak revenue potential.
https://uk.finance.yahoo.com/news/astrazenecas-5bn-drug-promise-no-123000465.html
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