Bristol Myers' Mezigdomide Cuts Myeloma Progression Risk by 52% in Late-Stage Trial
BMY sits 34% above its 52-week low of $42.52.
Summary
Bristol Myers Squibb's oral drug mezigdomide showed strong efficacy in a late-stage trial for multiple myeloma, reducing the risk of disease progression or death by 52%. Median progression-free survival was 18 months, significantly outperforming the 8.3 months for standard therapy, which included Amgen's Kyprolis. This detailed data follows a general announcement of positive results in March. The drug is positioned to replace older BMS treatments facing generic competition, offering a crucial new revenue stream and an an oral option for patients. Overall survival data is still pending.
At the time of this announcement, BMY was trading at $57.15 on NYSE in the Life Sciences sector, with a market capitalization of approximately $116.2B. The 52-week trading range was $42.52 to $62.89. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.