AstraZeneca PLCU. S.-listed shares tumbled on Tuesday, amid reports that the British drugmaker had suspended COVID-19 's vaccine trials.
AstraZeneca PLC fell 8.3% in after-hours trading in New York, and media quoted a company spokesman as saying that AstraZeneca PLC had suspended the clinical trial of COVID-19 vaccine because of suspected serious adverse reactions from a British clinical trial participant. The nature of the suspension is unclear and may not matter, the report said.
The COVID-19 vaccine jointly developed by AstraZeneca PLC and Oxford University is regarded as one of the main vaccine candidates expected to be put on the market. After the news, the share prices of Moderna Inc Inc., BioNTech SE and other vaccine development competitors rose.
Representatives of AstraZeneca PLC did not immediately respond to phone calls or emails seeking comment. The Jenner Institute at Oxford University did not immediately respond to a request for comment.