Welcome to our dedicated page for Bristol-Myers Squibb Co. news (Ticker: BMY), a resource for investors and traders seeking the latest updates and insights on Bristol-Myers Squibb Co. stock.
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 partnered with the American Music Therapy Association and Ben Platt to launch MS in Harmony, a digital platform designed for individuals with relapsing multiple sclerosis (RMS). This initiative aims to guide users towards achieving mind-body harmony through music therapy. Research indicates potential benefits of music therapy in alleviating both physical and mental symptoms of MS. The platform provides accessible resources, including video exercises led by certified music therapists, intended to support the MS community.
Bristol Myers Squibb (NYSE: BMY) will participate in a fireside chat at the Raymond James Virtual 42nd Annual Institutional Investors Conference on March 2, 2021, at 8:20 a.m. ET. David Elkins, CFO, will discuss the company's strategies and answer investor questions. The session will be broadcast live, and the public can access it via http://investor.bms.com. An archived version will also be available later that day. Bristol Myers Squibb is committed to delivering innovative medicines for serious diseases.
Bristol Myers Squibb (NYSE:BMY) announced a notice of redemption for its 4.000% Notes due 2023 and $42.25 million of its 3.250% Notes due 2023. The redemptions will occur on March 24, 2021, and March 9, 2021, respectively. The company plans to finance this through cash on hand, having already redeemed approximately $4.0 billion in debt related to its previously announced tender offers. This announcement serves solely as a notice of redemption and does not constitute an offer to sell or buy securities.
Bristol-Myers Squibb (NYSE:BMY) announced the final terms for its offers to purchase notes for an aggregate amount of $4 billion. The offers include various series of notes with details provided for each, including principal amounts, accepted yields, and total consideration per $1,000 principal. Key highlights include:
- Accepted amounts for notes due 2023, 2024, and 2025.
- High acceptance rates for most securities, with some yields reaching up to 3.781%.
- Overall, a strategic move to manage its debt obligations effectively.
Bristol-Myers Squibb Company (NYSE:BMY) and Celgene Corporation announced early participation results for their $4.0 billion cash tender offers for various notes. As of February 18, 2021, validly tendered amounts included $256.4 million for 4.000% Notes due 2023 and $2.1 billion for 2.900% Notes due 2024. The offers will expire on March 4, 2021, unless extended. An early settlement is set for February 23, 2021. The announcement indicates strong investor interest and highlights the company's commitment to optimize its capital structure.
Bristol Myers Squibb (NYSE: BMY) announced positive results from its Phase 3 CheckMate -274 trial for Opdivo (nivolumab) in treating muscle-invasive urothelial carcinoma. The study met its primary endpoints, showing a significant improvement in disease-free survival (DFS) for patients receiving Opdivo, with a median DFS of 21.0 months, nearly double that of placebo at 10.9 months. In patients with PD-L1 ≥1%, the risk of recurrence or death was reduced by 47%. Key secondary endpoints also showed improved non-urothelial tract recurrence-free survival.
Bristol Myers Squibb (BMY) and Exelixis (EXEL) reported compelling results from the Phase 3 CheckMate -9ER trial for advanced renal cell carcinoma (RCC). The combination of OPDIVO® (nivolumab) and CABOMETYX® (cabozantinib) demonstrated significant improvements in progression-free survival (PFS) at 17.0 months compared to sunitinib's 8.3 months (HR 0.52). Overall survival (OS) also improved with a 34% reduction in death risk (HR: 0.66). Patients reported enhanced quality of life with fewer adverse events. These findings will be presented at the ASCO 2021 Symposium.
Bristol Myers Squibb (NYSE: BMY) announced that the European Commission has granted full Marketing Authorization for Inrebic® (fedratinib). This treatment is specifically for adult patients with myelofibrosis-related splenomegaly or symptoms who are naive to JAK inhibitors or have failed treatment with ruxolitinib. Inrebic is the first once-daily oral therapy to significantly reduce spleen volume and symptoms for these patients. The approval covers all EU member states plus Norway, Iceland, and Liechtenstein.
Results from the pivotal JAKARTA and JAKARTA2 studies supported this approval, highlighting a critical new treatment option for patients.
Bristol Myers Squibb (NYSE: BMY) announced FDA approval for Breyanzi (lisocabtagene maraleucel), a CAR T cell therapy for adult patients with relapsed or refractory large B-cell lymphoma (LBCL) after two or more systemic therapies. Notable data from the TRANSCEND NHL 001 trial showed a 73% response rate among 192 patients treated. Breyanzi offers a single dose of 50 to 110 x 10^6 CAR-positive T cells and a 24-day turnaround time. The therapy has a REMS program due to potential side effects, including cytokine release syndrome and neurologic toxicities.
Bristol Myers Squibb (NYSE: BMY) will participate in a fireside chat during Guggenheim’s Virtual Healthcare Talks | 2021 Oncology Day on February 12, 2021, at 12 p.m. ET. Chris Boerner, Ph.D., Executive Vice President and Chief Commercial Officer, will address questions during the session. Investors and the public can listen to the live webcast at investor.bms.com, where related materials will also be available. An archived version of the chat will be accessible later in the day.
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