Bristol Stock Dips After Immunotherapy Lung Cancer Treatment Regimen Fails - Investor's Business Daily
Bristol-Myers Squibb (BMY) on Tuesday dipped to its lowest point this month after its immunotherapy regimen failed as a small cell lung cancer treatment.
XOn the stock market today, Bristol stock slipped 3% to 51.15. Bristol stock, however, remained within the bounds of a consolidation period and a buy point at 63.79. At the same time, shares of its closest rival, Merck (MRK), lifted 1.2% to 76.34.
The pharmaceutical giant tested immunotherapy drugs Opdivo and Yervoy as a maintenance treatment for patients with small cell lung cancer. Patients had already completed a round of chemotherapy and their cancer hadn't worsened.
But the immunotherapy regimen failed to improve overall survival in lung cancer treatment. There were no new safety issues in the study.
The results, presented late Monday, followed a victory for Bristol stock earlier this year after the Food and Drug Administration approved Opdivo as a small cell lung cancer treatment. It was the first new small cell lung cancer treatment in nearly 20 years, Bristol said.
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