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Bristol-Myers, GeneCentric Tie Up for Opdivo Biomarker Study
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Bristol-Myers Squibb Company (BMY - Free Report) inked a biomarker research collaboration with GeneCentric Diagnostics, Inc., under which application of the latter’s proprietary core technology, Cancer Subtype Platform (CSP), will be explored for the identification of translational biomarkers for Bristol-Myers’ immuno-oncology treatment, Opdivo, thereby facilitating future studies on the product.
Bristol-Myers has underperformed the Zacks classified Large Cap Pharmaceuticals industry in the past one year. The stock has lost 2.4% during this period, while the industry gained 4.9%.
In addition, the collaboration includes an equity investment by Bristol-Myers to support the clinical development of GeneCentric’s CSP and build-out of its new laboratory in Research Triangle Park.
We are optimistic on the latest deal. GeneCentric’s technology will speed up translational and exploratory biomarker research by facilitating the identification of biologic subtypes of cancer through an integrated analysis of tumor genomics. This will in turn identify patients who are optimally suited for certain drugs as well as companion diagnostics.
We note that Bristol-Myers has been quite active on the deal-making front. The company has been striking collaborative deals to study the role of immune biomarkers that will identify patients who will benefit the most from immuno-oncology therapies.
In Nov 2016, Bristol-Myers teamed up with Paris-based Enterome for the discovery and development of microbiome-derived biomarkers, drug targets and bioactive molecules as potential companion diagnostics and therapeutics for cancer. The partnership focuses on the identification of novel microbiome-derived biomarkers to improve clinical outcomes for patients treated with Bristol-Myers’ immuno-oncology products.
Note that the GeneCentric agreement came only a day after Bristol-Myers’ clinical research collaboration with Johnson & Johnson’s (JNJ - Free Report) Janssen Biotech, Inc., under which Opdivo will be evaluated in combination with Darzalex in phase Ib/II studies for multiple myeloma and several solid tumor types.
These deals are in sync with Bristol-Myers’ focus on evaluating Opdivo in combination with cancer treatments developed by various research institutes, and small and large biotech and pharma companies.
Glaxo’s earnings estimates inched up 0.4% for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters, with an average beat of 8.96%.
Earnings estimates for Pfizer have increased from $2.59 to $2.60 for 2017 over the last 60 days. The company recorded a positive earnings surprise in three of the trailing four quarters, the average being 6.34%. Its share price was up 8% in the past one year.
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Bristol-Myers, GeneCentric Tie Up for Opdivo Biomarker Study
Bristol-Myers Squibb Company (BMY - Free Report) inked a biomarker research collaboration with GeneCentric Diagnostics, Inc., under which application of the latter’s proprietary core technology, Cancer Subtype Platform (CSP), will be explored for the identification of translational biomarkers for Bristol-Myers’ immuno-oncology treatment, Opdivo, thereby facilitating future studies on the product.
Bristol-Myers has underperformed the Zacks classified Large Cap Pharmaceuticals industry in the past one year. The stock has lost 2.4% during this period, while the industry gained 4.9%.
In addition, the collaboration includes an equity investment by Bristol-Myers to support the clinical development of GeneCentric’s CSP and build-out of its new laboratory in Research Triangle Park.
We are optimistic on the latest deal. GeneCentric’s technology will speed up translational and exploratory biomarker research by facilitating the identification of biologic subtypes of cancer through an integrated analysis of tumor genomics. This will in turn identify patients who are optimally suited for certain drugs as well as companion diagnostics.
We note that Bristol-Myers has been quite active on the deal-making front. The company has been striking collaborative deals to study the role of immune biomarkers that will identify patients who will benefit the most from immuno-oncology therapies.
In Nov 2016, Bristol-Myers teamed up with Paris-based Enterome for the discovery and development of microbiome-derived biomarkers, drug targets and bioactive molecules as potential companion diagnostics and therapeutics for cancer. The partnership focuses on the identification of novel microbiome-derived biomarkers to improve clinical outcomes for patients treated with Bristol-Myers’ immuno-oncology products.
Note that the GeneCentric agreement came only a day after Bristol-Myers’ clinical research collaboration with Johnson & Johnson’s (JNJ - Free Report) Janssen Biotech, Inc., under which Opdivo will be evaluated in combination with Darzalex in phase Ib/II studies for multiple myeloma and several solid tumor types.
These deals are in sync with Bristol-Myers’ focus on evaluating Opdivo in combination with cancer treatments developed by various research institutes, and small and large biotech and pharma companies.
Bristol-Myers Squibb Company Price and Consensus
Bristol-Myers Squibb Company Price and Consensus | Bristol-Myers Squibb Company Quote
Zacks Rank & Stocks to Consider
Bristol-Myers is currently a Zacks Rank #3 (Hold) stock. A couple of better-ranked stocks in this industry are GlaxoSmithKline plc (GSK - Free Report) and Pfizer Inc. (PFE - Free Report) . Both the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Glaxo’s earnings estimates inched up 0.4% for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters, with an average beat of 8.96%.
Earnings estimates for Pfizer have increased from $2.59 to $2.60 for 2017 over the last 60 days. The company recorded a positive earnings surprise in three of the trailing four quarters, the average being 6.34%. Its share price was up 8% in the past one year.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>