The HealthCare unit of
) recently announced that its cancer candidate regorafenib fared
well in a phase III study (GRID: n=199), which evaluated patients
suffering from metastatic and/or unresectable gastrointestinal
stromal tumors (GIST). The disease had progressed in the evaluated
patients in spite of being previously treated with
) Gleevec and
Results from the randomized, double-blind, placebo-controlled,
multi-center, cross-over study revealed that treatment with
regorafenib (160 mg) plus the best supportive care (BSC) reduced
the risk of the disease progressing further or even death by 73%
compared to those in the placebo + BSCarm. Bayer intends to seek
marketing approval for regorafenib for the GIST indication in the
second half of 2012.
Apart from GIST, Bayer is evaluating regorafenib in patients
suffering from metastatic colorectal cancer (mCRC). Bayer presented
encouraging data from a phase III study (CORRECT: n=760), which
evaluated regorafenib in mCRC patients whose disease had progressed
even after treatment with the standard drugs for the disease. The
data was presented at the 48th annual conference of the American
Society of Clinical Oncology (ASCO).
Results from the study revealed that there was a significant
improvement in progression-free survival and overall survival in
patients treated with regorafenib (160 mg) plus the BSC compared to
those in the placebo + BSCarm. Bayer is seeking approval of the
candidate for the mCRC indication in the US and the EU. Once
regorafenib is commercialized, Bayer will have to make royalty
payments on global sales of the candidate to
Onyx Pharmaceuticals, Inc
), per an agreement inked last year.
We have a Neutral recommendation on Bayer. The stock carries a
Zacks #3 Rank (Hold rating) in the short run.
BAYER A G -ADR (BAYRY): Free Stock Analysis
NOVARTIS AG-ADR (NVS): Free Stock Analysis
ONYX PHARMA INC (ONXX): Free Stock Analysis
PFIZER INC (PFE): Free Stock Analysis Report
To read this article on Zacks.com click here.