Bayer (BAYRY) and partner Orion Corporation announced that they have started enrolling patients for a phase III (ARAMIS) study on ODM-201. The candidate is being developed for the treatment of patients suffering from prostate cancer.
The study will evaluate ODM-201 in patients suffering from castration-resistant prostate cancer (CRPC) at high risk of developing metastatic disease which can be identified by the rapid increase in Prostate Specific Antigen (PSA). The main objective of the study is to determine the effects of ODM-201 on metastasis-free survival.
Earlier in the year, Bayer had inked a global agreement with Orion for the development and commercialization of ODM-201 for an upfront payment of €50 million. As per the terms of the agreement, Bayer will be bearing the majority of costs for the development of the candidate. ODM-201 will be commercialized globally by Bayer. However, Orion has the option to co-promote the candidate in Europe and will also be responsible for the manufacturing of the candidate.
We note that Bayer already has Nexavar, Stivarga and Xofigo in its oncology portfolio. Bayer’s progress with its oncology portfolio is impressive. However, companies like Roche (RHHBY) also have a strong presence in the global oncology market.
Bayer has several late stage candidates in its pipeline. Successful development of these candidates will boost the company’s top line.
Bayer currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks include Allergan Inc. (AGN) and Gilead Sciences Inc. (GILD). Both the stocks hold a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment