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US FDA approves AstraZeneca’s Imfinzi for lung cancer treatment

The U.S. Food and Drug Administration (FDA) has granted approval for AstraZeneca’s (AZN) Imfinzi (durvalumab) in combination with chemotherapy for the treatment of adult patients with early-stage lung cancer.

The decision follows the positive results from the AEGEAN Phase III trial, which demonstrated that the Imfinzi-based regimen, when used both before and after surgery, reduced the risk of recurrence, progression, or death by 32% compared to chemotherapy alone. Furthermore, the trial showed a significant increase in the pathologic complete response (pCR) rate, with 17.2% of patients achieving pCR compared to only 4.3% with chemotherapy alone.

The drug is also approved for use in the UK, Switzerland, and Taiwan, with further regulatory reviews underway in the EU, China, and other countries. AstraZeneca said his approval adds to Imfinzi’s established role in treating unresectable Stage III NSCLC, further solidifying its position as a global standard of care in lung cancer treatment.

AstraZeneca’s share price is performing very well with the shares breaking to new trend highs in recent weeks – taking both of our tranches in the stock further into profit.  

AZN Daily Candle Chart

Costain surges on strong trading update and contract win

Costain’s (COST) surged higher last week, buoyed by a combination of positive developments that boosted investor confidence.

The rally came in the wake of a strong trading update, which highlighted Costain’s strong financial performance and promising growth prospects. In particular, Costain reported healthy revenue figures and an increase in operating profit, signalling effective execution of its strategic priorities. The trading update also reaffirmed the company’s commitment to meeting its margin targets for the fiscal years 2024 and 2025, which further reassured investors about Costain’s profitability and financial stability.

Adding to the positive momentum, Costain secured a major contract win that further solidified its market position. The CMDP+ joint venture, a collaboration between Costain and MWH Treatment, was awarded a strategic framework contract by Southern Water. This contract, part of Southern Water’s ambitious AMP8 programme, is initially valued at £500 million and includes an option to extend for up to five years. The project will involve significant upgrades to water and wastewater infrastructure, including treatment plants, pumping stations, and reservoirs, underscoring Costain’s expertise in the water sector and its ability to deliver critical national infrastructure projects.

The combination of strong financial results and the high-profile contract win highlighted Costain’s continued growth trajectory. We remain more than happy to hold the stock within our list of FTSE Investor open positions.

COST Daily Candle Chart