Bayer shares slump to 12-year low, pulls pin on trial
Sharecast
Published Nov 20, 2023 09:59
Updated Nov 20, 2023 10:11
Bayer shares slump to 12-year low, pulls pin on trial
Sharecast - Bayer (ETR:BAYGN) aborted its phase III trial on asundexian early on the back of a recommendation from the Independent Data Monitoring Committee, which concluded the candidate was less effective than the current standard treatment, apixaban.
Despite the premature termination, Bayer said it was still committed to its OCEANIC-STROKE trial, which looks to target patients with limited treatment options and will proceed as scheduled.
Bayer also revealed it was actively considering a corporate restructuring, with the group exploring various strategic options, including potentially splitting off its non-prescription or agricultural business units.
As of 0930 GMT, Bayer shares were down 16.77% at €34.50 each.
Reporting by Iain Gilbert at Sharecast.com
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