Bristol-Myers Squibb Co (NYSE: BMY) is making a run for the top in the market this morning after announcing positive clinical data. The data comes from a Phase 3 trial, suggesting that a regulatory submission is likely around the corner. Here’s what’s going on:
BMY Stock Flies On Positive Phase 3 Data
Bristol-Myers Squibb is headed for the top in the market this morning after the company announced positive clinical data. The data came from the CheckMate -9LA, pivotal Phase 3 clinical trial.
In the trial, the company assessed Opdivo in combination with low-dose Yervoy and two cycles of chemotherapy as an option in non-small cell lung cancer. BMY said that the trial met its primary endpoint of superior overall survival at a pre-specified interim analysis.
The combination treatment proved to lead to better outcomes than chemotherapy aone for up to four cycles followed by optional maintenance therapy.
Importantly, not only did the treatment prove to be effective, it maintained a positive safety and tolerability profile.
In a statement, Fouad Namouni, M.D., head of Oncology Development at BMY, had the following to offer:
We are excited by the CheckMate -9LA results, which demonstrate the potential of Opdivo plus low-dose Yervoy to provide a survival benefit to patients with non-small cell lung cancer in the first-line setting when administered concomitantly with a limited course of chemotherapy. These results build on the benefit the combination of Opdivo plus Yervoy has previously shown in first-line melanoma, renal cell carcinoma and most recently lung cancer, and may provide a new therapeutic option for patients.
Why Investors Are So Excited
Ultimately, there are several good reasons that investors are sending the stock up in the market this morning. Here’s how I see it:
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