AstraZeneca Tests Next-Gen Cell Therapy in Multiple Sclerosis: What Investors Should Watch

AstraZeneca (AZN) announced an update on their ongoing clinical study.

Study Overview

AstraZeneca is running a Phase 1b trial titled “A Phase 1b, Open-label, Multi-center, Randomized Study Evaluating the Safety and Tolerability of AZD0120, an Autologous CD19/BCMA Targeting Chimeric Antigen Receptor T-cells, in Adults With Refractory Relapsing or Progressive Multiple Sclerosis.” The main goal is to see if AZD0120, a cell-based therapy, can be given safely to adults whose multiple sclerosis (MS) no longer responds well to current drugs. This early-stage study is important because it applies a cancer-style cell therapy approach to a large chronic disease, opening a potential new market if the safety profile looks acceptable.

Intervention/Treatment

The study tests AZD0120, a personalized cell therapy made from a patient’s own immune cells. These cells are modified to target two markers, CD19 and BCMA, which are linked to immune cells involved in MS. The treatment is given as an infusion in two dosing approaches, called Regimen 1 and Regimen 2, with the aim of easing disease activity in both relapsing and progressive forms of MS.

Study Design

This is an interventional, randomized study with parallel treatment groups. Participants are assigned to different AZD0120 regimens, but there is no placebo or blinding; both doctors and patients know what is given. The key focus is treatment, and the main outcomes are safety and tolerability, typical for an early-stage trial where the priority is to understand risks before moving into larger, more expensive Phase 2 and 3 studies.

Study Timeline

The study was first submitted on October 21, 2025, marking its regulatory registration and signaling the start of formal set-up and enrollment. The trial is currently listed as “recruiting,” meaning patient enrollment is underway and no primary completion date has yet been reported. There is no posted primary or final completion date, which is normal for a new Phase 1b program. The last update was submitted on January 30, 2026, confirming the record is current and that the development program is active.

Market Implications

For investors, this trial highlights AstraZeneca’s push into high-value neuroimmunology using advanced cell therapy, a field now led mainly by oncology players. While Phase 1b safety data are unlikely to move AZN’s stock in the short term, continued recruitment and clean safety updates would support the long-term growth story in immunology beyond cancer and respiratory assets. Success here could eventually open a premium-priced treatment option in MS, a market currently dominated by Biogen, Roche, Novartis, and others, but timelines are long and technical risk is high. Investors should view this as an optionality asset: near-term valuation impact is limited, but positive early signals could improve sentiment around AstraZeneca’s pipeline diversification and support a higher risk-tolerant multiple compared with traditional pharma peers. The study is ongoing and has been recently updated, with further details available on the ClinicalTrials portal.

To learn more about AZN’s potential, visit the AstraZeneca drug pipeline page.