Bayer Maintained at Buy as BofA Notes 'Highly Positive' Interim Data from Nubeqa Late-stage Study

12:23 PM EDT, 10/26/2026 (MT Newswires) -- BofA Global Research reaffirmed its buy rating on Bayer (BAYN.F) after the company presented "highly positive" interim data from the late-stage DASL-HiCaP trial evaluating Nubeqa in early stage, very high-risk prostate cancer. "Overall, we think data were highly positive and support a large expansion opportunity for Nubeqa in earlier-line prostate cancer, which likely offers upside to cons cEur5.5bn peak sales. Data has come c2 years earlier than expected (given hit at interim) and has thus largely been off investor radar," analysts said in a Monday note. "In detail, Nubeqa in combination with [androgen deprivation therapy] + radiotherapy showed a 58% reduction in risk of metastasis or death vs placebo + ADT + radiotherapy (HR 0.42, p=0.0001). A positive trend was also seen on secondary overall survival endpoint (HR 0.88, CI 0.49-1.59), with follow-up ongoing." The research firm also views the DASL-HiCap study, along with the upcoming readout for the late-stage Arastep trial in prostate cancer patients at high risk of biochemical recurrence in 2027, as "big" opportunities for the German life science company to significantly expand Nubeqa's addressable patient population. The stock's price objective stands at 58 euros.