Bristol-Myers Squibb Co Stock Price, News & Analysis

Bristol Myers Squibb Foundation (BMS Foundation) is expanding its initiatives to improve lung cancer screening access across underserved communities in the United States. The foundation has awarded several significant grants, including $6.8 million for the QUILS™ program in Mississippi and Nevada, building on the success of Kentucky LEADS which achieved a 10% decline in late-stage diagnoses. Additionally, a $2.5 million grant was given to UCLA Health to lead CAL-PALS, targeting improved screening access in Los Angeles County.

The foundation is also collaborating with the U.S. Department of Veterans Affairs on the MAS-EXPAND study to research lung cancer risk factors in veterans. These initiatives aim to increase early detection rates, which can improve five-year survival rates from 4% to 55% when lung cancer is discovered early enough for surgical removal.

insitro has received $25 million from Bristol Myers Squibb (BMY) for achieving discovery milestones and selecting the first novel target for amyotrophic lateral sclerosis (ALS) treatment. The milestone stems from their 2020 collaboration agreement. Using their proprietary machine learning platform, insitro developed over 200 engineered and patient ALS cell lines, along with high-content imaging and pooled optical screening technology to identify disease mechanisms and genetic modifiers. The platform successfully identified several novel gene targets that showed promise in reversing ALS-related deficits. Under the agreement terms, insitro received a $50 million upfront payment and could earn up to $2 billion in additional milestones plus royalties.

Bristol Myers Squibb (NYSE: BMY) has announced a quarterly dividend increase of 3.3%, raising it to $0.62 per share from the previous $0.60. The dividend will be paid on February 3, 2025, to stockholders of record as of January 3, 2025. At this rate, the annual dividend for fiscal year 2025 will be $2.48 per share. This marks BMY's 16th consecutive year of dividend increases and 93rd consecutive year of dividend payments. Additionally, the company declared a quarterly dividend of $0.50 per share on its $2.00 convertible preferred stock, payable March 3, 2025, to stockholders of record as of February 4, 2025.

Bristol Myers Squibb (BMY) presented results from 18 studies at ASH 2024, showcasing progress in cell therapy across blood cancers and autoimmune diseases. Key highlights include long-term survival data for Breyanzi in lymphoma treatments, showing 38% 5-year overall survival rate and favorable safety profiles.

The company revealed first survival data for arlocabtagene autoleucel in multiple myeloma, demonstrating 87% overall response rate. New analysis showed 96.8% manufacturing success rate for Abecma globally. Additionally, updated results for CD19 NEX-T showed promise in treating severe autoimmune conditions, including lupus.

AI Proteins and Bristol Myers Squibb (NYSE: BMY) have entered a Research Collaboration and Option Agreement to develop novel miniprotein-based therapeutics. AI Proteins will receive an upfront payment to discover and optimize miniproteins for two undisclosed targets. BMY has options for exclusive worldwide licensing and two additional targets, with potential milestone payments up to $400M plus royalties. The collaboration leverages AI Proteins' AI-driven platform to design small, high-affinity proteins that offer advantages over traditional antibody therapies, including better tissue penetration and rapid clearance.

Bristol Myers Squibb (NYSE: BMY) has announced its participation in Citi's 2024 Global Healthcare Conference. The company's board chair and CEO, Christopher Boerner, Ph.D., will engage in a fireside chat on December 3, 2024, starting at 8:00 a.m. ET. The session will be accessible to investors and the public through a live webcast at http://investor.bms.com, with an archived version available after the event.

Bristol Myers Squibb (NYSE: BMY) announced the presentation of over 90 data disclosures at the 66th ASH Annual Meeting, including 18 oral presentations from its hematology and cell therapy research programs. Key highlights include five-year follow-up data for Breyanzi in large B-cell lymphoma, new analyses from the COMMANDS trial for Reblozyl in myelodysplastic syndromes, and updates on cell therapy platforms including GPRC5D-directed CAR T cell therapy in multiple myeloma. The presentations showcase BMS's diverse portfolio across multiple blood diseases and innovative treatment approaches in targeted protein degradation and cell therapy.

Bristol Myers Squibb (BMY) received a positive CHMP opinion recommending approval of Opdivo plus Yervoy for first-line treatment of adult patients with MSI-H or dMMR metastatic colorectal cancer. The recommendation is based on the Phase 3 CheckMate -8HW trial results, which showed a 79% reduction in risk of disease progression or death compared to chemotherapy (HR: 0.21; p<0.0001). This dual immunotherapy combination would be the first of its kind for first-line metastatic colorectal cancer treatment in the EU. The treatment targets approximately 5-7% of metastatic colorectal cancer patients with dMMR or MSI-H tumors.

Bristol Myers Squibb (BMY) has received a positive recommendation from the European Medicines Agency's CHMP for repotrectinib, a next-generation tyrosine kinase inhibitor. The drug is intended for treating adult patients with ROS1-positive advanced non-small cell lung cancer and patients 12 years and older with advanced NTRK-positive solid tumors. The recommendation is based on the TRIDENT-1 and CARE trials, which showed significant response rates and durable activity. The European Commission's final decision is expected in January 2025.