The fi­nal hours and days are tick­ing away on a $6B bet as dead­line looms on a sus­pense­ful FDA de­ci­sion

The clock is tick­ing down to the year-end dead­line for an FDA ap­proval of liso-cel, and the sus­pense is killing in­vestors.

You’ll re­call that Bris­tol My­ers CEO Gio­van­ni Caforio in­sist­ed at the last minute of ne­go­ti­a­tions with Cel­gene ex­ecs that they had to re­place cash on the ta­ble with a CVR $BMYRT tied to 3 key drug ap­provals by a cer­tain dead­line.

That’s all 3. Miss one, and any­one hold­ing on to the $9 CVR would get noth­ing. For Bris­tol My­ers, it’s a $6 bil­lion play.

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