Bayer AG said on Thursday its Regorafenib cancer treatment drug helped extend the lives of liver cancer sufferers according to the results of a Phase III clinical trial.

Bayer now plans to file for regulatory approval of the oncology compound, which is also know as Stivarga, it said.

The German company said it plans to submit the data from its study as the basis for marketing authorisation of Regorafenib in the treatment of inoperable liver cancer in 2016.