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Bristol-Myers Squibb Co. (BMY) is a renowned American multinational pharmaceutical company headquartered in New York City. As one of the largest pharmaceutical companies globally, Bristol-Myers Squibb (BMS) consistently ranks on the Fortune 500 list. In fiscal 2022, the company achieved total revenue of $46.2 billion.
Bristol-Myers Squibb focuses on discovering, developing, and marketing drugs across various therapeutic areas, including cardiovascular, cancer, and immune disorders. A significant area of focus for BMS is immuno-oncology, where it has established itself as a leader in drug development. Approximately 70% of BMS's total sales are derived from the U.S. market, reflecting its higher dependence on this region compared to its peers.
Recent achievements and collaborations highlight BMS's commitment to innovation and partnerships. On May 22, 2024, BMS joined NeoPhore Limited's oversubscribed Series B extension round. This additional investment will enable NeoPhore to explore novel biology associated with the DNA mismatch repair (MMR) pathway in cancer, and further advance its pre-clinical studies. NeoPhore aims to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients.
Another noteworthy collaboration was announced on June 5, 2024, with I-Mab, a U.S.-based global biotech company. This partnership will evaluate the combination of givastomig, an investigational Claudin 18.2 x 4-1BB bispecific antibody, with BMS's immune checkpoint inhibitor, nivolumab, and chemotherapy. The study, a multi-national Phase 1, will focus on advanced Claudin 18.2-positive gastric and esophageal cancers. BMS will supply nivolumab, which is designed to enhance T-cell function and improve anti-tumor responses.
Additionally, on June 5, 2024, Envisagenics, an AI-driven biotechnology company, announced a Series B fundraising round with participation from BMS. This funding will be utilized to further develop Envisagenics' pipeline of novel preclinical oncology assets using their cloud-based AI drug discovery platform, SpliceCore®. This collaboration underscores BMS's continued investment in innovative technologies and therapeutics.
Bristol-Myers Squibb's mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases. Through strategic partnerships, cutting-edge research, and a commitment to therapeutic advancements, BMS continues to make significant strides in the biopharmaceutical industry.
Bristol Myers Squibb (NYSE:BMY) has announced an extension of its offer to acquire Turning Point Therapeutics (NASDAQ:TPTX) until August 15, 2022. The offer price remains at $76.00 per share in cash, previously set to expire on July 18, 2022. As of the last update, 34,447,733 shares, approximately 69.0% of Turning Point's outstanding shares, were tendered. The acquisition is anticipated to close in the third quarter of 2022, subject to various regulatory conditions.
Bristol Myers Squibb (NYSE: BMY) has announced the FDA's approval of Breyanzi (lisocabtagene maraleucel), a CAR T cell therapy specifically for adult patients with large B-cell lymphoma (LBCL). This approval is rooted in pivotal trial data demonstrating a median event-free survival of 10.1 months for Breyanzi versus 2.3 months for standard care, highlighting its significant efficacy. Notably, Breyanzi now features the broadest patient eligibility criteria among CAR T therapies for relapsed or refractory LBCL, marking a milestone in cancer treatment innovation.
Bristol Myers Squibb (NYSE:BMY) announced new findings from the Zeposia (ozanimod) Phase 3 DAYBREAK trial, demonstrating cognitive benefits for patients with relapsing multiple sclerosis (MS). In patients with high thalamic volume, 45.5% showed improvement in cognitive function at Month 48. Zeposia was well tolerated, with over 80% of participants remaining on treatment through 48 months. These results highlight the importance of early treatment in preserving cognitive function, which will be presented at the European Academy of Neurology Congress in Vienna, Austria.
Bristol Myers Squibb (NYSE:BMY) released new data on COVID-19 vaccine responses in participants treated with Zeposia (ozanimod) in the ongoing Phase 3 DAYBREAK trial for relapsing multiple sclerosis. The study indicated a 100% seroconversion rate in participants receiving mRNA vaccines, while 62% for non-mRNA vaccine recipients. Results show higher antibody levels in mRNA vaccine recipients, suggesting patients on Zeposia may benefit from booster doses. Findings will be presented on June 28, 2022, at the European Academy of Neurology Congress in Vienna.
Bristol Myers Squibb (NYSE: BMY) announced the validation of its type II variation application by the European Medicines Agency for Breyanzi to treat specific lymphoma types in adults, enhancing its role as a second-line therapy. This follows promising results from the TRANSFORM Phase 3 study, showcasing Breyanzi's superiority over the standard care with significant improvements in event-free survival and safety. The EMA review marks a critical step in advancing treatment options for patients with relapsed or refractory large B-cell lymphoma.
Bristol Myers Squibb (NYSE: BMY) announced a quarterly dividend of $0.54 per share on its common stock, payable on August 1, 2022, to stockholders of record by July 1, 2022. Additionally, a $0.50 dividend per share will be distributed on its convertible preferred stock, payable on September 1, 2022, to stockholders of record by August 9, 2022. The company continues its commitment to delivering value to its shareholders through consistent dividend payments.
Bristol Myers Squibb (NYSE: BMY) has appointed Dr. Deepak L. Bhatt to its Board of Directors, effective June 14, 2022. Dr. Bhatt, an expert in cardiovascular medicine, will also serve on the Science & Technology Committee. With over 20 years of research experience, he aims to enhance the company’s strategic development and innovation in treating serious diseases. This move expands the Board to 11 members, aligning with BMY's commitment to excellence in patient care and advancing its pipeline of medicines.
Bristol Myers Squibb (NYSE:BMY) is set to announce its second quarter 2022 financial results on July 27, 2022, at 8:00 a.m. ET. Company executives will host a conference call to review the results and answer questions from analysts and investors. A live webcast of the call will be accessible to the public via investor.bms.com. Replays of the call will be available starting at 11:30 a.m. EDT on the same day, continuing until August 10, 2022.
Bristol Myers Squibb (NYSE: BMY) will participate in a fireside chat at Goldman Sachs’ 43rd Annual Global Healthcare Conference in Rancho Palos Verdes, California, on Wednesday, June 15, 2022. Adam Lenkowsky, Senior VP and General Manager of U.S. Commercialization, will address questions starting at 9:20 a.m. PT/12:20 p.m. ET. Investors and the public can listen to a live webcast at investor.bms.com, where additional materials will also be available. An archived version will be accessible later that day.
Bristol Myers Squibb (NYSE: BMY) announced positive three-year follow-up results from the Phase 3 CheckMate -9LA trial for metastatic non-small cell lung cancer (mNSCLC). The trial demonstrated a significant improvement in overall survival (OS) with Opdivo and Yervoy, achieving a 27% survival rate compared to 19% for chemotherapy alone. Notably, results were favorable for patients with PD-L1 expression <1%. The safety profile remains consistent with previous findings. These findings underscore the potential of dual immunotherapy in addressing high unmet needs in mNSCLC.
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