Bristol-Myers Squibb Co Stock Price, News & Analysis

Bristol Myers Squibb (NYSE: BMY) announced new findings from its CAMZYOS (mavacamten) program at the American College of Cardiology Annual Scientific Session & Expo held March 4-6, 2023. The data strengthens the therapeutic value of CAMZYOS for patients with obstructive hypertrophic cardiomyopathy (HCM). Key presentations included 156-week results from the PIONEER-OLE study, and analyses from the EXPLORER-HCM trial, indicating improved cardiac function across various subgroups. The research reinforces the commitment of Bristol Myers Squibb to developing impactful cardiovascular treatments for patients.

Bristol Myers Squibb and Pfizer have launched the No Time to Wait campaign featuring basketball legend Kareem Abdul-Jabbar. The initiative aims to raise awareness of atrial fibrillation (AFib), a condition affecting an estimated 9.5 million people in the U.S. in 2023, which can lead to significantly increased risk of stroke.

Abdul-Jabbar will share his personal AFib diagnosis story to encourage individuals to consult healthcare professionals regarding their symptoms, which include irregular heartbeat and fatigue. The campaign highlights the importance of early intervention to prevent serious health consequences.

Bristol Myers Squibb (NYSE: BMY) announced promising three-year follow-up results from the Phase 3 CheckMate -274 trial of Opdivo (nivolumab) for high-risk muscle-invasive urothelial carcinoma. Results showed a median disease-free survival of 22.0 months for patients on Opdivo, more than double the 10.9 months for placebo, indicating a 29% risk reduction. In patients with PD-L1 expression ≥1%, median disease-free survival rose to 52.6 months vs. 8.4 months for placebo (HR 0.52). The study demonstrated significant improvements in non-urothelial tract recurrence-free survival and distant metastasis-free survival, highlighting Opdivo's potential in changing urothelial cancer treatment.

Bristol Myers Squibb (NYSE:BMY) collaborates with Kareem Abdul-Jabbar and Pfizer to promote awareness about atrial fibrillation (AFib) through the No Time to Wait campaign. As AFib cases in the U.S. are projected to rise from 9.5 million in 2023 to 12.1 million by 2030, it is crucial to recognize its symptoms, which include irregular heartbeat and shortness of breath. Abdul-Jabbar shares his personal journey with AFib, emphasizing the importance of seeking medical advice. The initiative aims to encourage timely conversations between patients and healthcare professionals about AFib to improve detection and treatment outcomes.

Bristol Myers Squibb (NYSE: BMY) and Exelixis (NASDAQ: EXEL) announced three-year follow-up results from the Phase 3 CheckMate -9ER trial, demonstrating significant benefits for the combination of Opdivo® (nivolumab) and CABOMETYX® (cabozantinib) in treating advanced renal cell carcinoma (RCC). With a median follow-up of 44 months, the combination showed a 30% reduction in the risk of death and improved overall survival (49.5 months vs. 35.5 months) compared to sunitinib. Progression-free survival also doubled (16.6 months vs. 8.4 months) while maintaining safety profiles. These results will be presented at the ASCO GU 2023 Symposium.

Bristol Myers Squibb (NYSE: BMY) and 2seventy bio (NASDAQ: TSVT) announced positive results from the pivotal Phase 3 KarMMa-3 study of Abecma (idecabtagene vicleucel) for patients with relapsed and refractory multiple myeloma. Abecma showed a significant improvement in median progression-free survival (PFS) of 13.3 months versus 4.4 months for standard regimens. The study demonstrated a 51% reduction in risk of disease progression or death. Overall response rates were also significantly higher for Abecma at 71%, with 39% achieving a complete response. Safety results were consistent with prior data, with no new safety signals reported.

Bristol Myers Squibb continues to advance its work in genitourinary (GU) cancers, emphasizing the ongoing need for innovative treatments. Dr. Dana Walker, leading the GU cancers program, highlighted significant research progress, including the emergence of immunotherapy and targeted agents as preferable alternatives to chemotherapy. As standards of care evolve, the company is exploring new combinations of treatments to address high unmet needs in patient populations. Upcoming presentations at ASCO GU 2023 are anticipated to unveil groundbreaking data, reflecting BMS's commitment to enhancing patient outcomes.

Bristol Myers Squibb (NYSE: BMY) will participate in a fireside chat at the Guggenheim Healthcare Talks 2023 Oncology Conference on February 9, 2023, at 1:00 p.m. ET. Chris Boerner, Ph.D., Executive Vice President and Chief Commercialization Officer, will address inquiries about the company. The event will be live-streamed, with an archived version available later that day. Bristol Myers Squibb is dedicated to discovering and delivering innovative medicines to help patients combat serious diseases.

Bristol Myers Squibb (NYSE:BMY) reported fourth quarter revenues of $11.4 billion, down 5% year-over-year, while full-year revenues remained stable at $46.2 billion. Fourth quarter GAAP EPS was $0.95, a decline of 11%, and non-GAAP EPS was $1.82, down 1%. Key growth drivers included in-line products, achieving revenues of $8.3 billion, up 4%, and new product portfolio revenues of $645 million, an 83% increase. Financial guidance for 2023 suggests continued revenue growth, projecting GAAP EPS between $4.03 and $4.33. Despite strong commercial performance, challenges such as generic erosion of Revlimid affected overall revenue performance.