Bristol-Myers Squibb Co - BMY STOCK NEWS

Bristol Myers Squibb (NYSE:BMY) reported promising results from the Phase 2 AXIOMATIC-SSP study on milvexian, an oral factor XIa inhibitor, showing a ~30% relative risk reduction in symptomatic ischemic strokes compared to placebo. Notably, there were no instances of fatal bleeding or increased symptomatic intracranial hemorrhage among patients treated with milvexian. These findings suggest potential for milvexian in improving outcomes for stroke patients, warranting further Phase 3 studies.

Bristol Myers Squibb (NYSE:BMY) has completed its acquisition of Turning Point Therapeutics in an all-cash deal valued at $76 per share. This acquisition enhances BMY's oncology portfolio, particularly with Turning Point’s lead asset, repotrectinib, aimed at ROS1-positive non-small cell lung cancer patients. The drug has shown promising results in clinical trials and is expected to receive FDA approval in the second half of 2023. Approximately 84% of Turning Point’s shares were tendered in the offer, finalizing its status as a wholly owned subsidiary of BMY.

Bristol Myers Squibb (NYSE:BMY) and Turning Point Therapeutics, Inc. (NASDAQ:TPTX) announced the expiration of the waiting period under the HSR Act, receiving merger control clearance from the Federal Cartel Office of Germany. The acquisition offer to buy all outstanding shares of Turning Point for $76.00 per share, totaling approximately $4.1 billion, is set to close on August 17, 2022. Approximately 41.9 million shares, or 84% of Turning Point's outstanding shares, were validly tendered as of the Offer's expiration on August 15, 2022.

Bristol Myers Squibb (NYSE: BMY) and 2seventy bio (NASDAQ: TSVT) announced positive topline results from the Phase 3 KarMMa-3 study, evaluating Abecma (idecabtagene vicleucel) in relapsed and refractory multiple myeloma. The trial met its primary endpoint, showing statistically significant improvement in progression-free survival versus standard treatments. Key secondary endpoints, including overall response rate, also showed improvement. No new safety signals were reported, confirming Abecma's well-established safety profile.

Bristol Myers Squibb (NYSE: BMY) announced a virtual Investor Event on August 28, 2022, at 7:00 p.m. CET / 1:00 p.m. ET. The event will discuss data from the AXIOMATIC-SSP Phase 2 trial of milvexian for secondary stroke prevention presented at the European Society of Cardiology Congress 2022 in Barcelona, Spain. Executives will offer insights on the data and answer investor questions. Interested parties can access the live webcast on the company's investor relations website, with archived content available later the same day.

Bristol Myers Squibb (NYSE: BMY) announced that Part A of the Phase 3 CheckMate -914 trial did not meet its primary endpoint of disease-free survival for the combination therapy of Opdivo and Yervoy in patients with localized renal cell carcinoma after kidney surgery. Despite previous successes in treating other stages of RCC, this trial's outcome is disappointing. The company remains committed to research in this area and will evaluate the data for further insights.

Bristol Myers Squibb (NYSE:BMY) reported Q2 2022 revenues of $11.9 billion, a 2% year-over-year increase, or 5% when adjusted for foreign exchange. GAAP EPS rose 40% to $0.66, while non-GAAP EPS reached $1.93, mainly impacted by ($0.14) per share from Acquired IPRD charges. 11% revenue growth was noted in in-line products. The company reaffirmed non-GAAP EPS guidance for 2022 while adjusting GAAP EPS guidance. Additionally, they announced plans to acquire Turning Point Therapeutics (NASDAQ:TPTX) for $4.1 billion, expanding their precision oncology portfolio.

Bristol Myers Squibb (NYSE: BMY) announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has recommended the approval of the fixed-dose combination of nivolumab and relatlimab for treating advanced melanoma. This treatment targets adults and adolescents with a tumor cell PD-L1 expression < 1%. The recommendation is based on the Phase 2/3 RELATIVITY-047 trial results, which demonstrated over twofold increased median progression-free survival compared to nivolumab monotherapy. This would mark the first LAG-3 antibody combination approved in Europe.

Bristol Myers Squibb (BMY) has announced a three-year exclusive collaboration with Jack and Jill of America, Inc. aimed at enhancing diversity within the biopharma sector. This partnership will launch at the "Power of a Dream" National Convention in Orlando, Florida, from July 26-31. The initiative seeks to inspire more Black and African American youth to enter the biopharma industry, emphasizing health equity and better outcomes for marginalized communities. This aligns with BMY's commitment to fostering a sustainable pipeline of diverse talent from Historically Black Colleges and Universities.