AstraZeneca $AZN drops 9% after Wainua heart trial misses endpoint

A 9% share drop and roughly $27B of lost market value put AstraZeneca $AZN inside the Tier-1 single-stock screen on July 9. Yahoo Finance and CNBC reported that Wainua, the drug AstraZeneca developed with Ionis, failed to show a statistically significant reduction in cardiovascular deaths and recurrent cardiovascular hospitalizations in a late-stage trial for transthyretin-mediated amyloid cardiomyopathy.

The readout matters because ATTR-CM is the larger commercial prize for Wainua. The drug already has approvals for hereditary transthyretin amyloidosis-related polyneuropathy, a narrower indication that generated $220M in 2025 revenue, according to the same reports. The failed heart trial does not remove those approvals, but it forces investors to reset the addressable-market assumption.

Financial Times coverage cited expectations that Wainua peak-sales assumptions could fall from $6.5B to about $4B after the trial result. That is the market impact: a late-stage pipeline asset with a multibillion-dollar revenue case now carries a lower probability of reaching the broad cardiac market.

AstraZeneca has kept a 2030 revenue target of $80B, and the company still has other late-stage programs. The stock reaction shows investors are assigning a higher execution discount after this readout, particularly because the company also faced a delayed U.S. approval for a cancer treatment in May.

Next checks are the full trial data, any regulatory path the company outlines with Ionis, and whether management changes its 2030 bridge at the next results call.

Not investment advice. Verify all figures with primary sources before acting.