Bayer announced on Thursday that a Phase Ib clinical trial evaluating a gene therapy for Parkinson's disease had met its primary endpoint, leading to a sharp rise in its share price.

The study showed that AB-1005 - developed by Bayer's biotech subsidiary AskBio - was well tolerated by 11 patients, with no serious adverse events reported during the 18-month trial period.

The feasibility of the neurosurgical delivery mechanism was also demonstrated, the German pharmaceutical group said in a press release.

AskBio, which says it is 'encouraged' by these preliminary data, plans to present the detailed results of the study, including those relating to the secondary endpoints, during the second quarter at a scientific congress.

Recruitment for the Phase II trial is also due to start by the end of June.

Following these announcements, Bayer shares rose by almost 2% on Thursday on the Frankfurt stock exchange, posting the biggest gain on the DAX index, which advanced by 1.3% at the same time.

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