Bayer halts asundexian trial, considers restructuring

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Bayer halts asundexian trial, considers restructuring
Credit: © Reuters.

LEVERKUSEN - Bayer AG (ETR: BAYGN ) has ceased its phase III asundexian trial early based on the recommendation from the Independent Data Monitoring Committee (IDMC). The IDMC concluded that asundexian was less effective than apixaban, a current standard treatment, in preventing strokes in patients with atrial fibrillation at risk of stroke. This decision was announced today.

The OCEANIC-AF trial, which began in August 2022, aimed to evaluate the efficacy of asundexian but faced an early termination due to its comparative lesser effectiveness. Despite this setback, Bayer (OTC: BAYRY ) remains committed to its OCEANIC-STROKE trial, which targets patients with limited treatment options and will proceed as scheduled.

In addition to these clinical developments, Bayer is actively considering a corporate restructuring. The company is exploring various strategic options, including potentially splitting off its non-prescription or agricultural business units. This strategic evaluation comes as Bayer seeks to streamline operations and focus on its core competencies.

As the trial data is further analyzed, Bayer plans to use the findings from the discontinued OCEANIC-AF study to inform future research strategies and drug development efforts.

InvestingPro Insights

According to InvestingPro data, Bayer AG, also known as BAYGN, operates with a significant debt burden and has seen a decrease in revenue growth in the last twelve months as of Q3 2023. Despite these challenges, the company has maintained a strong dividend payment record for 32 consecutive years, which is a significant point of interest for shareholders.

InvestingPro Tips reveal that Bayer AG is a prominent player in the Pharmaceuticals industry, and it has been trading near its 52-week low. This could potentially present a buying opportunity for investors who believe in the company's long-term prospects. Additionally, it's worth noting that 4 analysts have revised their earnings upwards for the upcoming period, indicating a positive outlook.

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