Bayer stock climbs to high since July 2020: Bayer on possible blockbuster anticoagulant with positive phase 2b results

Asundexian is being studied as a new treatment option for thrombosis prevention.

As the DAX group announced, data from the so-called PACIFIC-AF study had shown that patients with atrial fibrillation and a risk of stroke had significantly lower bleeding rates after administration of Asundexian compared to the blood thinner apixaban. In patients who received Asundexian, bleeding rates for the primary endpoint of “major and clinically relevant non-major bleeding” were 67 percent lower than with apixaban, an approved blood thinning drug manufactured by Bayer’s competitors.

Both doses of 20 mg and 50 mg Asundexian were well tolerated, and both doses led to lower bleeding rates compared to apixaban, the pharmaceutical company said. At the same time, a significant inhibition of FXIa, an important factor in the blood clotting process, was achieved.

Atrial fibrillation is the most common sustained cardiac arrhythmia with the potential for blood clots to form. These can detach and travel to the brain, which can lead to a stroke.

According to Bayer, the study was planned as a phase 2 dose-finding study. A phase 3 efficacy study will be decided upon later this year after analysis of data from the safety study.

At the same time, Bayer presented the results of the study at the 71st conference of the American College of Cardiology and published them in The Lancet.

Bayer stock at high since July 2020 after positive study data

Positive study data on drug candidate Asundexian drove Bayer shares to another high since summer 2020 on Monday. Several analysts were positive. Barclays expert Emily Field even made a fresh recommendation with “Overweight” and also raised the price target.

The share certificates of the agar chemical and pharmaceutical group increased in XETRA trading to a daily high of EUR 65.24 and were thus among the top values ​​in the DAX. At the end of trading, they were still 3.25 percent higher at EUR 65.07.

A market expert praised the new drug for thrombosis prevention in the study in which the safety and optimal dosage were examined. Analyst Alistair Campbell from the investment house Liberum now sees a good chance that if the active ingredient is approved, it could be an even greater success than the blockbuster Xarelto, which flushes billions in sales into Bayer’s coffers every year.

According to Campbell, Asundexian is also important for Leverkusen because it is currently being developed without a partner. The sales with it would therefore not have to be shared – unlike with Xarelto, which is marketed outside the USA by Bayer but within the important US market by the competitor Johnson & Johnson.

JPMorgan analyst Richard Vosser highlighted the lower risk of bleeding compared to the blood thinner Eliquis from competitors Bristol-Meyers Squibb (BMS) and Pfizer. “Overall, we consider Asundexian’s bleeding profile to be significantly better than Eliquis,” he wrote. This should significantly increase investor confidence in Bayer’s drug candidates. This should “lead to a significant upgrade in average analyst estimates,” he expects.

FRANKFURT (Dow Jones / dpa-AFX)

Image sources: Bayer, 360b / Shutterstock.com