0347 GMT March 20, 2019
A study on men with non-metastatic prostate cancer that could not be helped with hormonal therapy met the primary goal of showing oral drug darolutamide can delay the spread of metastases, the companies said in a statement, Reuters reported.
Shares in Orion, which sold certain rights to the drug in a collaboration deal with Bayer in 2014, were up 7.5 percent at 07:40 GMT, while Bayer’s shares were down 0.8 percent.
Full details of the trials will be presented at a medical conference, Bayer said.
Bayer added it would now speak to health authorities about a possible request for marketing approval of darolutamide, a compound that was granted ‘fast track’ designation by the US Food and Drug Administration in the prostate cancer setting, potentially speeding the approval process.
Bayer shares slumped on Tuesday after a US judge affirmed a verdict against its Monsanto unit that found glyphosate-based weedkillers responsible for a man’s terminal cancer.