Bayer shares jump on positive data from stroke drug trial

(Sharecast News) - Bayer reported a major boost to its drug pipeline on Monday morning, after its experimental anticoagulant asundexian delivered positive results in a large phase three trial, easing concerns following a setback last year and lifting investor sentiment. The company said the once-daily, 50-milligram treatment significantly reduced the risk of recurrent ischemic stroke compared with a placebo when added to standard antiplatelet therapy, without increasing major bleeding - a key safety advantage for blood-thinning medicines.

It said the 'OCEANIC-STROKE' trial enrolled more than 12,300 patients who had previously suffered a non-cardioembolic ischemic stroke or high-risk transient ischemic attack.

Bayer said the data marked the first successful late-stage study for a factor XIa inhibitor, a drug class designed to prevent harmful clot formation while preserving normal blood-vessel healing.

The US Food and Drug Administration (FDA) has granted asundexian fast track status, with Bayer planning to engage with regulators globally ahead of submitting applications for marketing authorisation.

Market watchers saw the news as a possible turning point for the German group, which was battling patent expirations on key drugs such as Xarelto and Eylea, as well as prolonged US litigation tied to its Roundup weedkiller.

Goldman Sachs analyst James Quigley said the trial result was "transformational" and could lead to about €3bn in annual sales, according to Investing.com.

The success followed a failed 2023 trial in atrial fibrillation patients, which raised doubts about the drug's potential and forced Bayer to defend its long-term commercial expectations.

At 1014 CET (0914 GMT), shares in Bayer were up 9.15% in Frankfurt at €30.11.

Reporting by Josh White for Sharecast.com.