Bristol-Myers Squibb Co Stock Price, News & Analysis

Bristol Myers Squibb (NYSE: BMY) announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has recommended the approval of the fixed-dose combination of nivolumab and relatlimab for treating advanced melanoma. This treatment targets adults and adolescents with a tumor cell PD-L1 expression < 1%. The recommendation is based on the Phase 2/3 RELATIVITY-047 trial results, which demonstrated over twofold increased median progression-free survival compared to nivolumab monotherapy. This would mark the first LAG-3 antibody combination approved in Europe.

Bristol Myers Squibb (BMY) has announced a three-year exclusive collaboration with Jack and Jill of America, Inc. aimed at enhancing diversity within the biopharma sector. This partnership will launch at the "Power of a Dream" National Convention in Orlando, Florida, from July 26-31. The initiative seeks to inspire more Black and African American youth to enter the biopharma industry, emphasizing health equity and better outcomes for marginalized communities. This aligns with BMY's commitment to fostering a sustainable pipeline of diverse talent from Historically Black Colleges and Universities.

Bristol Myers Squibb (NYSE:BMY) has announced an extension of its offer to acquire Turning Point Therapeutics (NASDAQ:TPTX) until August 15, 2022. The offer price remains at $76.00 per share in cash, previously set to expire on July 18, 2022. As of the last update, 34,447,733 shares, approximately 69.0% of Turning Point's outstanding shares, were tendered. The acquisition is anticipated to close in the third quarter of 2022, subject to various regulatory conditions.

Bristol Myers Squibb (NYSE: BMY) has announced the FDA's approval of Breyanzi (lisocabtagene maraleucel), a CAR T cell therapy specifically for adult patients with large B-cell lymphoma (LBCL). This approval is rooted in pivotal trial data demonstrating a median event-free survival of 10.1 months for Breyanzi versus 2.3 months for standard care, highlighting its significant efficacy. Notably, Breyanzi now features the broadest patient eligibility criteria among CAR T therapies for relapsed or refractory LBCL, marking a milestone in cancer treatment innovation.

Bristol Myers Squibb (NYSE:BMY) announced new findings from the Zeposia (ozanimod) Phase 3 DAYBREAK trial, demonstrating cognitive benefits for patients with relapsing multiple sclerosis (MS). In patients with high thalamic volume, 45.5% showed improvement in cognitive function at Month 48. Zeposia was well tolerated, with over 80% of participants remaining on treatment through 48 months. These results highlight the importance of early treatment in preserving cognitive function, which will be presented at the European Academy of Neurology Congress in Vienna, Austria.

Bristol Myers Squibb (NYSE:BMY) released new data on COVID-19 vaccine responses in participants treated with Zeposia (ozanimod) in the ongoing Phase 3 DAYBREAK trial for relapsing multiple sclerosis. The study indicated a 100% seroconversion rate in participants receiving mRNA vaccines, while 62% for non-mRNA vaccine recipients. Results show higher antibody levels in mRNA vaccine recipients, suggesting patients on Zeposia may benefit from booster doses. Findings will be presented on June 28, 2022, at the European Academy of Neurology Congress in Vienna.

Bristol Myers Squibb (NYSE: BMY) announced the validation of its type II variation application by the European Medicines Agency for Breyanzi to treat specific lymphoma types in adults, enhancing its role as a second-line therapy. This follows promising results from the TRANSFORM Phase 3 study, showcasing Breyanzi's superiority over the standard care with significant improvements in event-free survival and safety. The EMA review marks a critical step in advancing treatment options for patients with relapsed or refractory large B-cell lymphoma.

Bristol Myers Squibb (NYSE: BMY) announced a quarterly dividend of $0.54 per share on its common stock, payable on August 1, 2022, to stockholders of record by July 1, 2022. Additionally, a $0.50 dividend per share will be distributed on its convertible preferred stock, payable on September 1, 2022, to stockholders of record by August 9, 2022. The company continues its commitment to delivering value to its shareholders through consistent dividend payments.

Bristol Myers Squibb (NYSE: BMY) has appointed Dr. Deepak L. Bhatt to its Board of Directors, effective June 14, 2022. Dr. Bhatt, an expert in cardiovascular medicine, will also serve on the Science & Technology Committee. With over 20 years of research experience, he aims to enhance the company’s strategic development and innovation in treating serious diseases. This move expands the Board to 11 members, aligning with BMY's commitment to excellence in patient care and advancing its pipeline of medicines.