Stockholders wary after AstraZeneca nixes Transgene deal

5 May 2023

The UK’s biggest drugmaker, AstraZeneca (LSE: AZN), has terminated a collaboration with oncolytic virus company Transgene (Euronext: TNG).

The Strasbourg, France-based biotech saw its shares fall 6% on Friday morning, after it made the announcement as part of a broader strategic update.

Transgene said its partner had pulled out of the collaboration, which was signed in 2019, following a strategic pipeline review.

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