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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 (BMY) reported five-year results from the Phase 3 CheckMate -227 trial, showing that the combination of Opdivo and Yervoy nearly doubled the overall survival rate at five years in patients with metastatic non-small cell lung cancer (mNSCLC) compared to chemotherapy. The five-year survival rate for patients with PD-L1 expression ≥1% was 24% for the immunotherapy combo, versus 14% for chemotherapy. In patients with PD-L1 expression <1%, survival rates were 19% vs. 7%. These results highlight the long-term efficacy and potential of Opdivo and Yervoy as first-line treatments.
Bristol Myers Squibb (NYSE: BMY) announced the withdrawal of its supplemental biologics license application for Reblozyl (luspatercept-aamt) aimed at treating anemia in adults with non-transfusion dependent beta thalassemia. The decision comes after the FDA raised concerns regarding the drug's benefit-risk profile based on data from the Phase 2 BEYOND trial. Despite this setback, the company continues to advance Reblozyl through a broad clinical development program.
Bristol Myers Squibb (NYSE:BMY) announced an all-cash tender offer to acquire Turning Point Therapeutics (NASDAQ:TPTX) for $76.00 per share, valuing the deal at approximately $4.1 billion. The acquisition includes repotrectinib, a promising next-generation ROS1/NTRK inhibitor, expected to launch in 2023 and enhance BMY's oncology portfolio. The deal is anticipated to be accretive to non-GAAP earnings per share starting in 2025. Both companies' boards unanimously approved the transaction, expected to close in Q3 2022, subject to customary conditions.
Bristol Myers Squibb (NYSE: BMY) announced topline results from the Phase 3 ACTIV-1 Immune Modulators study, sponsored by the National Institutes of Health. The trial evaluated Orencia (abatacept) for hospitalized COVID-19 patients. Results showed a statistically non-significant improvement in recovery time, but a notable reduction in the risk of death (11% vs. 15% for placebo), translating to 37.4% lower odds of mortality. Participants also experienced 34.2% better odds of clinical improvement. The drug's safety profile was consistent, with no new safety signals reported.
Immatics and Bristol Myers Squibb have expanded their strategic collaboration to develop allogeneic TCR-T and CAR-T therapies. Immatics will receive an upfront payment of $60 million, with additional milestone payments of up to $700 million for each program, along with tiered royalties. The partnership will leverage Immatics’ ACTallo® platform and Bristol Myers Squibb’s oncology expertise, focusing on multiple programs. Additionally, an autologous TCR-T target will be added under their existing 2019 agreement, granting Immatics a further $20 million upfront.
Bristol Myers Squibb (NYSE: BMY) announced promising results from the Phase 2 PAISLEY study on deucravacitinib, an oral TYK2 inhibitor for moderate to severe systemic lupus erythematosus (SLE).
The study met its primary endpoint with statistically significant SLE Responder Index-4 (SRI(4)) responses at Week 32: 58.2% for deucravacitinib 3 mg BID, 49.5% for 6 mg BID, compared to 34.4% for placebo.
Secondary endpoints showed clinically meaningful improvements at Week 48.
The safety profile was consistent with earlier studies, supporting advancement to Phase 3 trials.
Bristol Myers Squibb announced FDA approval for Opdivo® (nivolumab) in combination with chemotherapy and Opdivo plus Yervoy® (ipilimumab) for first-line treatment of unresectable advanced esophageal squamous cell carcinoma (ESCC). The approval follows results from the CheckMate -648 trial, which demonstrated improved overall survival (OS) and progression-free survival (PFS) compared to chemotherapy alone. Opdivo-based therapies are now approved for five indications in upper gastroesophageal cancers, offering new treatment options regardless of PD-L1 status.
Bristol Myers Squibb (NYSE: BMY) announced the primary analysis results of the Phase 2 PILOT study for Breyanzi in adults with refractory or relapsed large B-cell lymphoma (LBCL). The treatment achieved an 80% overall response rate, with 54% of patients experiencing complete responses. The median duration of response was 12.1 months, and progression-free survival was at 9 months. Breyanzi demonstrated a manageable safety profile and improved patient-reported outcomes regarding quality of life. A supplemental Biologics License Application for this indication is under Priority Review by the FDA, with a target decision date of June 24, 2022.
Bristol Myers Squibb (NYSE: BMY) will participate in a fireside chat at Bernstein’s 38th Annual Strategic Decisions Conference on June 2, 2022, at 8:00 a.m. ET in New York. Giovanni Caforio, M.D., Board Chair and CEO, along with Samit Hirawat, Chief Medical Officer, will discuss the company’s strategies. The event will be accessible via a live webcast at investor.bms.com, with an archived version available later that day. Bristol Myers Squibb focuses on developing innovative medicines for serious diseases.
Bristol Myers Squibb (BMY) presented new research highlighting the efficacy of its cancer therapies at the 2022 ASCO and EHA meetings. Key findings include:
- Long-term survival rates from CheckMate -227 for non-small cell lung cancer (NSCLC), showing durable outcomes with Opdivo plus Yervoy.
- First disclosure of the PILOT study, showcasing Breyanzi's effectiveness in large B-cell lymphoma.
- Data from MEDALIST and BELIEVE studies indicating consistent anemia control with Reblozyl.
- New evidence supporting the LAG-3 mechanism in melanoma treatment via Opdualag.
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