Movement Alert｜Bristol-Myers Squibb Rises 3.12% in Regular Trading, FDA Accepts Mezigdomide New Drug Application for Myeloma

Market Focus07-14 03:45

On July 14, Bristol-Myers Squibb rose 3.12% in regular trading, trading at $59.37/share, with turnover of $475 million. The gain was driven by the announcement that the U.S. FDA has accepted the company's new drug application for mezigdomide in combination with carfilzomib and dexamethasone for the treatment of relapsed or refractory multiple myeloma.

The filing was supported by Phase 3 trial data demonstrating a statistically significant improvement in progression-free survival. The trial showed the combination therapy reduced the risk of disease progression or death by 52%, extending median progression-free survival to 18 months versus 8.3 months for the standard-of-care arm. The overall response rate reached 80.2% compared with 53.4% for the control group. The FDA has assigned a PDUFA target action date of May 13, 2027.

The mezigdomide program is part of Bristol-Myers Squibb's CELMoD franchise, which RBC Capital Markets previously highlighted as an often-overlooked pipeline with several potential opportunities that could support upside for the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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