AstraZeneca shares slumped after its key lung-cancer drug trial failed necessary targets that could risk U.S. Food & Drug Administration approval in the coming weeks.

AstraZeneca shares slid 5% to 121.10 pounds in early morning trading in Europe, dragging the FTSE 1000 down.

The Anglo-Swedish pharmaceutical company said late Monday that its experimental antibody drug conjugate datopotamab deruxtecan didn't significantly improve overall survival results in patients with advanced nonsquamous non-small cell lung cancer.