Bayer, Orion gain after positive data on prostate cancer drug Nubeqa

** Shares of Bayer BAYGn.DE and partner Orion ORNBV.HE rise 3% and 5% respectively after positive trial results on jointly developed prostate cancer drug Nubeqa

** Bayer is at the top of Germany's blue-chip index DAX .GDAXI, while Orion is the third-biggest gainer on Europe's benchmark STOXX 600 index .STOXX

** Data presented at ESMO 2026 congress on Saturday showed Nubeqa reduced the risk of metastasis or death by 58% in the late-stage DASL-HiCaP trial, while four-year metastasis-free survival reached 95% versus 88% with placebo

** Jefferies calls DASL-HiCaP a "very strong positive trial" for Nubeqa, though it says the data is more confirmation than disruption

** In a research note, Jefferies upgrades Orion to "buy" from "hold", citing a Nubeqa upside and a chance the drug could win US patent protection beyond 2033

** Separately, the German pharmaceutical group said China had approved its blood thinner asundexian for stroke-risk reduction, making it the first Factor XIa inhibitor approved worldwide

($1 = 0.8925 euros)