Market Overview

With Bristol-Myers Trial Stopped Early, 'What's Next?'

Share:

Bristol-Myers Squibb Co (NYSE: BMY) announced on Fridady that its Opdivo trial was stopped early after superior results. Mark Schoenebaum at Evercore ISI said that expectations "were high going into the interim analysis," but the announcement removes any risk, however small.

With the trial stopped, Schoenebaum said that "the next question appears to be the timing of FDA approval." When Bristol-Myers prior trial for Opdivo was stopped in mid January, FDA approval happened in early March – less than two months later. Schoenebaum said that it was "perhaps the fastest approval in my 15-year career."

As it relates to Opdivo in this phase, Schoenebaum said that the drug could still receive approval by year-end and Bristol-Myers could have the Opdivo on the market "by the beginning of 2016."

Bristol-Myers is volatile in Friday's session, but last traded at $65.26, up 2.5 percent on the news.

Latest Ratings for BMY

DateFirmActionFromTo
Feb 2020BarclaysInitiates Coverage OnEqual-Weight
Jan 2020CitigroupReinstatesBuy
Dec 2019Argus ResearchUpgradesHoldBuy

View More Analyst Ratings for BMY
View the Latest Analyst Ratings

Posted-In: bristol-myers squibb Evercore ISI Mark SchoenebaumAnalyst Color Biotech Health Care Analyst Ratings General

 

Related Articles (BMY)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
FLIRNeedhamMaintains50.0
NEONeedhamMaintains32.0
NVAXB. Riley FBRMaintains16.0
SAGEH.C. WainwrightMaintains78.0
KOPB. Riley FBRMaintains50.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com