Bristol-Myers Squibb Co. - BMY STOCK NEWS

Bristol Myers Squibb (NYSE: BMY) announces research presentations at the 62nd ASH Annual Meeting, highlighting nearly 100 studies focused on treatments for blood cancers. Key studies include analyses of CD19-targeted CAR T cell therapy liso-cel and BCMA-targeted therapies for multiple myeloma. Research on the quality of life improvements with Onureg in acute myeloid leukemia and Luspatercept in beta thalassemia are also featured. This event underscores the company's commitment to innovative treatment options for serious hematologic diseases.

Bristol Myers Squibb (NYSE:BMY) has priced a public offering of senior unsecured notes totaling $7 billion, set to close on November 13, 2020. The offering includes six tranches with varying maturities and interest rates, aimed at funding the proposed $13.1 billion acquisition of MyoKardia. While the offering is not contingent on the acquisition's completion, a mandatory redemption at 101% of the notes' aggregate principal will occur if the acquisition is not finalized by June 30, 2021, or if Bristol Myers opts not to pursue it. Proceeds will also cover fees and general purposes.

Bristol Myers Squibb (NYSE: BMY) announced the European Commission's approval of Opdivo (nivolumab) plus Yervoy (ipilimumab) combined with two cycles of chemotherapy for first-line treatment of metastatic non-small cell lung cancer (NSCLC). This regimen is the first dual immunotherapy option approved in the EU for patients without sensitizing EGFR mutation or ALK translocation. The decision is based on the CheckMate -9LA trial results, which demonstrated significant improvements in overall survival, progression-free survival, and overall response rate compared to chemotherapy alone.

Bristol Myers Squibb (NYSE:BMY) announced data from 26 studies to be presented at ACR Convergence 2020, showcasing its immunology pipeline. Key highlights include:

• Deucravacitinib: Phase 2 trial results met primary and secondary endpoints for active psoriatic arthritis.
• Orencia: 13 presentations on its effectiveness in rheumatoid arthritis, including a real-world analysis.
• Iberdomide: Phase 2b trial met its primary endpoint in systemic lupus erythematosus patients.

These findings reflect the company's commitment to advancing therapies for immune-mediated diseases.

Bristol Myers Squibb (NYSE:BMY) reported a robust third quarter 2020 with total revenues of $10.54 billion, marking a 75% increase from $6.00 billion in Q3 2019. The U.S. revenue surged 88% to $6.5 billion. Non-GAAP diluted EPS rose 39% to $1.63, while GAAP diluted EPS saw a slight decline of 1% at $0.82. The company also raised its financial guidance for 2020, expecting non-GAAP EPS in the range of $6.25 - $6.35. Key product revenues included Revlimid at $3.03 billion and Eliquis at $2.1 billion.

Bristol Myers Squibb (NYSE: BMY) announced the expiration of the waiting period under the Hart-Scott-Rodino Act concerning its $13.1 billion tender offer to acquire MyoKardia at $225.00 per share. The waiting period expired on November 3, 2020, which fulfills a condition for the transaction's consummation, pending majority shareholder support and customary closing conditions. The tender offer will expire on November 16, 2020, unless extended.

Bristol Myers Squibb (NYSE:BMY) announced positive results from the POETYK PSO-1 Phase 3 trial for deucravacitinib, an oral selective TYK2 inhibitor, in moderate to severe plaque psoriasis. The trial met both co-primary endpoints, with more patients achieving a 75% improvement in PASI and a clear sPGA score after 16 weeks. Additionally, deucravacitinib showed superiority over Otezla. The trial's safety profile aligns with earlier results, supporting its potential as a new treatment option. Further evaluation of the data will be presented at future medical meetings.

The Bristol Myers Squibb–Pfizer Alliance has launched the No Time to Wait campaign aimed at raising awareness of atrial fibrillation (AFib), deep vein thrombosis (DVT), and pulmonary embolism (PE) symptoms. AFib increases stroke risk fivefold, affecting approximately 8.4 million people in the U.S. in 2020. The campaign addresses a concerning 20% decrease in primary care visits during the pandemic, emphasizing the importance of seeking timely medical attention. The initiative is supported by various advocacy organizations and medical societies to educate the public on these serious health conditions.

Bristol Myers Squibb and Exelixis announced that the FDA has accepted supplemental applications for OPDIVO® and CABOMETYX® in treating advanced renal cell carcinoma (RCC). The FDA granted Priority Review, with a target action date of February 20, 2021. This decision is based on the Phase 3 CheckMate -9ER trial, which showed significant improvements in overall survival, progression-free survival, and objective response rate when combining OPDIVO and CABOMETYX compared to sunitinib. Patient-reported outcomes indicated enhanced quality of life for patients using the combination therapy.