AstraZeneca shares slide even as the company’s coronavirus vaccine trial results show ‘promise’

  • AstraZeneca shares slid on Monday despite positive news from the drugmaker’s first human COVID-19 vaccine trials.
  • The early-stage human trial data for the vaccine – which is being developed in conjunction with Oxford University – showed the results of 543 vaccinated volunteers.
  • The vaccine was able to generate immune responses in healthy volunteers, the results showed.
  • In early US trade, the company’s stock was down by around 2.7%.
  • Watch AstraZeneca trade live on Markets Insider.
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AstraZeneca shares fell on Monday even after positive results from a trial involving its COVID-19 vaccine developed in partnership with Oxford University.

In a trial on 543 people, the vaccine was able to generate immune responses in healthy volunteers, results published Monday showed.

“There is still much work to be done before we can confirm if our vaccine will help manage the COVID-19 pandemic, but these early results hold promise,” University of Oxford Professor Sara Gilbert said in a statement Monday. 

Shares in the British-Swedish pharma giant had been trading higher in early afternoon trade in the UK, but slid after the results were announced.

Having traded up by around 5% before the annoucement, around 30 minutes after it was made, the stock was up just 0.8%.

The company’s US listed shares traded at $59.47 in early US trading, down 2.7%

Data on the drugmaker’s early-stage human trials of its vaccine, called AZD1222, showed that it is sage and induces an immune reaction, the Lancet Medical Journal said on Monday.

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AstraZeneca has become the latest drugmaker to release early human data and published its first clinical results in The Lancet.

Last week, blood samples of volunteers taken by researchers at Oxford showed both antibodies and T cells, which are a component of the immune system.

Global supply of AstraZeneca’s potential vaccine has doubled to two billion after the company signed a $750 million deal with charities including the Bill and Melinda Gates Foundation.

On Monday, Britain’s business secretary Alok Sharma announced that the UK had secured early access to 90 million doses of promising COVID-19 vaccine candidates from BioNTech/Pfizer, Valneva, and AstraZeneca. 

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