Bristol-Myers does it again, disappointing investors with a surprise Opdivo PhIII failure as chemo combo flops
Bristol-Myers Squibb has some more bad news to share with investors about its all-important cancer franchise for Opdivo. A day before their Q2 review, the pharma giant says that Checkmate-227 failed on the overall survival endpoint, with a combination of Opdivo and chemotherapy unable to separate significantly from chemo alone among frontline patients suffering non-squamous non-small cell lung cancer.
Their combo came up with median OS rate of 18.83 months, compared to 15.57 months for chemotherapy — and the landmark one-year OS was 67.3% vs. 59.2%, respectively.
Its shares immediately plunged into the red zone Wednesday evening, dropping close to 5% after the bell.
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