Yes, that could be AZN’s plan. However, when a drug company discontinues research in a particular area, compounds that have not yet reached the PoC stage generally get out-licensed or axed. AZD7295 would appear to have not yet reached the PoC stage, so I find it a bit odd that AZN would want to fund this program when they have already decided to pull back from the HCV arena.
Upon further reflection, my guess is that AZD7295 was never actually in phase-2, and the entry in AZN’s pipeline chart from Jan 2010 was either an expectation or an oversight.
The rationale for the new phase-1 trial may be that AZN’s managers were split as to whether the program should advance. In the debate over progressing to phase-2 vs canning the program, a compromise may have been struck to conduct another small phase-1.