Wedoany.com Report-Nov. 25, Bayer (BAYGn.DE) shares rose more than 8 percent on Monday after the company released positive Phase III results for its cardiovascular drug candidate asundexian, marking a significant recovery from a major clinical setback two years earlier.

Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019.

On Sunday, Bayer announced that asundexian, when added to standard antiplatelet therapy, substantially lowered the risk of ischemic stroke compared with placebo in patients who had previously experienced a stroke or transient ischemic attack. Importantly, the 50-milligram daily dose achieved this benefit without increasing the risk of major bleeding.

The breakthrough reverses the disappointment from late 2023, when a separate large-scale trial of asundexian in patients with atrial fibrillation failed to meet its primary endpoint, forcing Bayer to discontinue that development program.

By 0816 GMT on Monday, Bayer shares were trading at 29.92 euros ($34.49), reaching their highest level in over a week.

The favorable outcome provides a crucial boost for CEO Bill Anderson, who is implementing wide-ranging organizational changes aimed at reducing the company's substantial debt and addressing ongoing litigation related to glyphosate-based herbicides and polychlorinated biphenyls.

Bayer stated that full results from the OCEANIC-STROKE study will be presented at an upcoming medical congress. The company also confirmed plans to engage with regulatory authorities globally to prepare marketing authorization submissions for asundexian in this patient population.

The successful trial demonstrates that targeted use of asundexian in patients with a prior ischemic event offers meaningful protection against recurrent stroke while maintaining a favorable safety profile regarding bleeding risk, potentially establishing a new treatment option in secondary stroke prevention.