Bristol Myers shares gain after positive results for two drugs

what happened

Barron's, which is operated by Dow Jones & Co., reported that Bristol Myers Squibb announced encouraging results from two late-stage clinical studies. The pipeline candidate RYZ101 significantly improved progression-free survival in a Phase 3 trial involving patients with rare, advanced gastrointestinal and pancreatic tumors. Researchers compared it with the standard of care in patients whose disease had progressed after Lutetium-177-based treatment.

The company also said a 60-milligram dose of experimental admilparant, taken twice daily, produced a statistically significant improvement over placebo in preserving lung function after 52 weeks among patients with idiopathic pulmonary fibrosis. The 120-milligram dose did not achieve statistical significance. Bristol Myers shares rose 2.2% on Monday and were on course to end a two-day decline.

The results arrive as the drugmaker prepares for a major patent cliff in 2028, when key protections for Opdivo and Eliquis begin to expire. Eliquis is co-commercialized with Pfizer. Bristol Myers is seeking to replace future lost revenue with newer medicines, including Cobenfy. The company entered radiopharmaceuticals in 2023 through its $4.1 billion acquisition of RayzeBio.

why it matters

The trial readouts strengthen the case for Bristol Myers’ development pipeline as the company works to offset eventual pressure on its largest revenue drivers, although clinical success does not by itself ensure commercial success.

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