🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Why Bristol Myers Squibb's Shares Are Gaining Today?

Published 07/12/2023, 17:37
Updated 07/12/2023, 18:40
© Reuters.  Why Bristol Myers Squibb's Shares Are Gaining Today?
BMY
-

Benzinga - by Vandana Singh, Benzinga Editor.

Bristol Myers Squibb & Co (NYSE: BMY) released topline data from Phase 3 CheckMate -8HW trial of Opdivo (nivolumab) plus Yervoy (ipilimumab) compared to the investigator’s choice of chemotherapy as a first-line treatment for microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) metastatic colorectal cancer.

The study met the dual primary endpoint of progression-free survival (PFS) assessed by Blinded Independent Central Review (BICR) at a pre-specified interim analysis.

The dual immunotherapy combination of Opdivo plus Yervoy demonstrated a statistically significant and clinically meaningful improvement in PFS compared to chemotherapy.

The safety profile for the combination of Opdivo plus Yervoy remained consistent with previously reported data, with no new safety signals identified.

The study is ongoing to assess the other dual primary endpoint of PFS in patients receiving Opdivo plus Yervoy compared to Opdivo alone, as well as secondary endpoints.

“The benefits of Opdivo plus Yervoy in MSI-H/dMMR mCRC were established previously in CheckMate -142, in which the dual immunotherapy combination demonstrated strong and durable anti-tumor activity among patients who had progressed after prior fluoropyrimidine-based combination chemotherapy, the company said.

Most recently, Bristol Myers announced that the FDA accepted the supplemental Biologics License Application for Opdivo (nivolumab) in combination with cisplatin-based chemotherapy as a first-line treatment for adult patients with unresectable or metastatic urothelial carcinoma, based on results from the Phase 3 CheckMate -901 trial.

The FDA granted the application Priority Review status and assigned a Prescription Drug User Fee Act goal date of April 5, 2024.

Price Action: BMY shares are up 2.20% at $50.98 on the last check Thursday.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.