Cryptic crossword clue
Wasting an award 7

The most common and most likely answer to this crossword clue is the 7 letter word ATROPHY

I've seen this crossword clue in Financial Times
A
T
R
O
P
H
Y

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The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does ATROPHY mean?

ATROPHY noun
  1. A reduction in the functionality of an organ caused by disease, injury or lack of use.
ATROPHY verb
  1. To wither or waste away.
  2. To cause to waste away or become abortive; to starve or weaken.

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