NEW YORK - OS Therapies, a clinical-stage biopharmaceutical company focused on cancer immunotherapies, announced today the appointment of Avril McKean Dieser and Olivier R. Jarry as independent members of its Board of Directors. This move comes as part of the company's efforts to strengthen its leadership in anticipation of regulatory approval and commercial launch activities, particularly for its osteosarcoma treatment, OST-HER2.
The appointments follow the recent resignations of Dr. Colin Goddard and Mr. Joacim Borg, who were thanked for their contributions to the company's transition to a public entity. The new directors, McKean Dieser and Jarry, collectively bring over five decades of experience in the biopharmaceutical sector, with expertise in commercialization and business development.
Avril McKean Dieser, currently serving as Vice President at UCB, Inc., has a background in regulatory, pricing, and patient engagement. Her personal connection to osteosarcoma, having lost her son to the disease, underscores her commitment to advancing treatments for this form of cancer.
Olivier R. Jarry, co-founder and CEO of Libera Bio S.L., brings a wealth of experience from his roles in various biopharmaceutical companies, including DarioHealth (NASDAQ:DRIO) and Intrexon Corp. His insights into business development and fundraising are expected to support OS Therapies' strategic objectives.
OS Therapies is developing OST-HER2, an immunotherapy targeting the HER2 protein, which has shown promise in a Phase 2b clinical trial for resected, recurrent osteosarcoma. Results from the trial are anticipated in the fourth quarter of 2024. The company is also exploring strategic partnerships to bring the therapy to markets outside the United States.
In addition to OST-HER2, OS Therapies is advancing its Antibody Drug Conjugate platform, with a focus on delivering multiple payloads per linker to address various solid tumors.
The information in this article is based on a press release statement from OS Therapies. The company has outlined its forward-looking plans, including the potential impact of OST-HER2 on the treatment of osteosarcoma and other HER2 expressing cancers. However, as with all forward-looking statements, these plans are subject to risks and uncertainties and are not guarantees of future performance.
In other recent news, Bristol-Myers Squibb (NYSE:BMY) has seen several significant developments. The company's earnings and revenue have been positively impacted by the successful launch of key products such as Eliquis and Opdivo. TD Cowen has recognized this growth, adjusting its price target for the company to $59 while maintaining a Hold rating. However, the firm has expressed caution regarding the company's long-term growth due to the upcoming loss of exclusivity for some of its products.
Bristol-Myers Squibb has also made strides in legal matters, successfully dismissing a $6.4 billion lawsuit related to the delayed approval of the cancer drug Breyanzi and two other drugs developed by Celgene (NASDAQ:CELG). In the realm of drug development, the company has reported positive outcomes from the Phase 3b/4 PSORIATYK SCALP trial of Sotyktu for patients with moderate-to-severe scalp psoriasis.
Analyst firms such as Morgan Stanley (NYSE:MS), JPMorgan (NYSE:JPM), BMO Capital, and Goldman Sachs (NYSE:GS) have responded positively to the FDA approval of Bristol-Myers Squibb's schizophrenia treatment, COBENFY™. Additionally, Morgan Stanley maintained a positive outlook on Zai Lab (NASDAQ:ZLAB) shares following the FDA approval of COBENFY™, as Zai Lab had previously secured the Greater China rights to the drug. These are the recent developments in Bristol-Myers Squibb's ongoing activities in the pharmaceutical industry.
InvestingPro Insights
While OS Therapies is making strategic moves in the biopharmaceutical space, it's worth considering the broader context of the pharmaceutical industry. Bristol Myers Squibb (BMY), a major player in this sector, offers some interesting insights that could be relevant to investors watching smaller companies like OS Therapies.
According to InvestingPro data, Bristol Myers Squibb has a market capitalization of $106.78 billion, positioning it as a prominent player in the pharmaceuticals industry. This scale provides a benchmark for the potential growth trajectory of smaller companies in the sector.
One InvestingPro Tip highlights that BMY has maintained dividend payments for 54 consecutive years, demonstrating long-term financial stability - a key consideration for investors in the often volatile biotech sector. Additionally, BMY's dividend yield stands at 4.62%, which could be attractive for income-focused investors looking at the pharmaceutical space.
Another relevant InvestingPro Tip notes that BMY's management has been aggressively buying back shares. This could signal management's confidence in the company's future prospects, a factor that smaller biotech firms like OS Therapies might aspire to as they grow.
It's worth noting that InvestingPro offers 11 additional tips for BMY, providing a comprehensive view of the company's financial health and market position. These insights can be valuable for investors seeking to understand the broader pharmaceutical landscape as they evaluate emerging players like OS Therapies.
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