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Bristol Myers (BMY) Reports Positive Data From Urothelial Cancer Study
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Bristol Myers (BMY - Free Report) reported encouraging results from the sub study of its phase III CheckMate -901. The study met its dual primary endpoint of overall survival (OS) and progression-free survival (PFS).
The late-stage study is a randomized, open-label trial evaluating Opdivo (nivolumab), in combination with Yervoy (primary study), or Opdivo, in combination with chemotherapy (sub-study), compared to standard-of-care chemotherapy alone in patients with untreated unresectable or metastatic urothelial cancer.
The data demonstrated that continued treatment with the dual immunotherapy-based combination followed by Opdivo monotherapy, showed significant benefits in OS and PFS compared with cisplatin-based combinations.
Shares of Bristol Myers have fallen 12.8% year to date compared with the industry’s 10.6% decline.
Image Source: Zacks Investment Research
Urothelial carcinoma accounts for around 90% of all bladder cancer cases. Although most urothelial carcinomas are diagnosed at an early stage, approximately 50% of patients who undergo surgery experience disease progression and recurrence within two to three years.
The company plans to complete a full evaluation of the available data and looks forward to sharing the results at a future medical conference.
Opdivo, a PD-1 immune checkpoint inhibitor, is currently approved in several countries for various oncology indications. The drug’s label expansion presents a significant opportunity for Bristol Myers.
Yervoy is currently approved for unresectable or metastatic melanoma in more than 50 countries. Both drugs are being studied for treating multiple types of tumor.
In June 2023, BMY received European Commission’s approval for the expanded use of Opdivo, in combination with platinum-based chemotherapy, for the neoadjuvant treatment of resectable non-small cell lung cancer.
This approval positions Opdivo as the first neoadjuvant immunotherapy-based treatment option available for patients in the European Union in this specific setting, creating incremental revenue growth opportunities for BMY.
The Zacks Consensus Estimate for Akero Therapeutics has narrowed from a loss of $2.92 per share to a loss of $2.80 for 2023 in the past 90 days. The company's shares have nosedived 18.2% year to date.
AKRO’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.13%.
The consensus estimate for ImmunoGen has narrowed from a loss of 81 cents per share to a loss of 53 cents for 2023 in the past 90 days. Shares of the company have rallied 276.8% year to date.
IMGN’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 7.09%.
The consensus mark for Omega Therapeutics has narrowed from a loss of $2.49 per share to a loss of $2.05 for 2023 in the past 90 days. Shares of the company have nosedived 20% year to date.
OMGA’s earnings beat estimates in two of the trailing four quarters, met the mark in one and missed in another, delivering an average surprise of 8.24%.
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Bristol Myers (BMY) Reports Positive Data From Urothelial Cancer Study
Bristol Myers (BMY - Free Report) reported encouraging results from the sub study of its phase III CheckMate -901. The study met its dual primary endpoint of overall survival (OS) and progression-free survival (PFS).
The late-stage study is a randomized, open-label trial evaluating Opdivo (nivolumab), in combination with Yervoy (primary study), or Opdivo, in combination with chemotherapy (sub-study), compared to standard-of-care chemotherapy alone in patients with untreated unresectable or metastatic urothelial cancer.
The data demonstrated that continued treatment with the dual immunotherapy-based combination followed by Opdivo monotherapy, showed significant benefits in OS and PFS compared with cisplatin-based combinations.
Shares of Bristol Myers have fallen 12.8% year to date compared with the industry’s 10.6% decline.
Image Source: Zacks Investment Research
Urothelial carcinoma accounts for around 90% of all bladder cancer cases. Although most urothelial carcinomas are diagnosed at an early stage, approximately 50% of patients who undergo surgery experience disease progression and recurrence within two to three years.
The company plans to complete a full evaluation of the available data and looks forward to sharing the results at a future medical conference.
Opdivo, a PD-1 immune checkpoint inhibitor, is currently approved in several countries for various oncology indications. The drug’s label expansion presents a significant opportunity for Bristol Myers.
Yervoy is currently approved for unresectable or metastatic melanoma in more than 50 countries. Both drugs are being studied for treating multiple types of tumor.
In June 2023, BMY received European Commission’s approval for the expanded use of Opdivo, in combination with platinum-based chemotherapy, for the neoadjuvant treatment of resectable non-small cell lung cancer.
This approval positions Opdivo as the first neoadjuvant immunotherapy-based treatment option available for patients in the European Union in this specific setting, creating incremental revenue growth opportunities for BMY.
Bristol Myers Squibb Company Price and Consensus
Bristol Myers Squibb Company price-consensus-chart | Bristol Myers Squibb Company Quote
Zacks Rank & Stocks to Consider
Bristol Myers currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Akero Therapeutics (AKRO - Free Report) , ImmunoGen and Omega Therapeutics (OMGA - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Akero Therapeutics has narrowed from a loss of $2.92 per share to a loss of $2.80 for 2023 in the past 90 days. The company's shares have nosedived 18.2% year to date.
AKRO’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.13%.
The consensus estimate for ImmunoGen has narrowed from a loss of 81 cents per share to a loss of 53 cents for 2023 in the past 90 days. Shares of the company have rallied 276.8% year to date.
IMGN’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 7.09%.
The consensus mark for Omega Therapeutics has narrowed from a loss of $2.49 per share to a loss of $2.05 for 2023 in the past 90 days. Shares of the company have nosedived 20% year to date.
OMGA’s earnings beat estimates in two of the trailing four quarters, met the mark in one and missed in another, delivering an average surprise of 8.24%.