A $6B CVR goes pfffft as the game clock runs out on a New Year's dead­line for Bris­tol My­er­s' liso-cel ap­pli­ca­tion

The last sec­onds of 2020 have ticked away, drain­ing the last of the sand in the hour glass along with any re­main­ing hopes in a $6 bil­lion dream.

That $9 CVR Cel­gene in­vestors got from Bris­tol My­ers — worth a $6 bil­lion pay­out — is no more. The dead­line for an ap­proval of liso-cel came at the witch­ing hour Thurs­day night, with­out any world from Bris­tol My­ers about what had hap­pened. Then, Fri­day morn­ing, Jan­u­ary 1, the phar­ma gi­ant — which has been stoni­ly silent aside from putting the ball in the FDA’s court — ac­knowl­edged that the jig was up.

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