Actionable news
All posts from Actionable news
Actionable news in BMY: BRISTOL-MYERS SQUIBB CO.,

William Blair Remains Positive on Bristol-Myers Squibb Co (BMY) in Wake of Disappointing Phase III Failure

Friday morning before market open, Bristol-Myers Squibb Co (NYSE:BMY) came to terms with the failure of its Phase III CheckMate-026 trial evaluating Opdivo monotherapy in PD-L1 positive, treatment-naïve non-small cell lung cancer (NSCLC) patients. The trial did not meet the crucial primary endpoint of progression free survival.

Though William Blair analyst John Sonnier acknowledges the biotech misstep is of course not only a setback, but a “big disappointment,” the analyst maintains bullishness and rates Buy for Bristol.

Sonnier is taken aback with surprise by Bristol’s negative results, especially when recalling more promising activity indicated in prior Optivo therapy trials. The phase III flop does not spell good news for...