There was good news for German drug major Bayer (BAY: DE), which yesterday presented late-stage trial data the on prostate cancer drug Alpharadin (radium-233 chloride), saying the study was stopped early due to impressive overall survival data.
The drug is the subject of an $800 million licensing deal signed in 2009 with Norway’s Algeta, which saw its shares leap 37% to 54 Norwegian kroner yesterday. Bayer edged 1.5% higher to 56.25 euros.
The USA-based Bayer HealthCare Pharmaceuticals unit announced that the Phase III ALSYMPCA (ALpharadin in SYMptomatic Prostate CAncer) trial evaluating Bayer's investigational compound radium-223 chloride, in patients with castration-resistant prostate cancer (CRPC) and bone metastases met its primary endpoint by significantly improving overall survival. Based on a recommendation from the Independent Data Monitoring Committee (IDMC), following a pre-planned interim analysis, the study will be stopped and patients on the placebo arm will be offered treatment with radium-223 chloride.
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