Bristol Myers Squibb’s Opdivo-Yervoy Combo Fails Kidney Cancer Trial
August 1, 2022
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Bristol Myers Squibb’s ($NYSE:BMY) Opdivo-Yervoy Combo Fails Kidney Cancer Trial Bristol Myers Squibb has announced that the first part of a phase 3 trial of Opdivo plus Yervoy as an adjuvant therapy for certain patients with kidney cancer has not met its main goal of disease-free survival. Part A of the trial, dubbed CheckMate -914, was evaluating Opdivo plus Yervoy as an adjuvant therapy for patients with localized renal cell carcinoma who have undergone full or partial removal of the kidney and who are at moderate or high risk of relapse. The news of the failed trial will likely have a negative impact on Bristol Myers Squibb’s market value and earnings in the long term, as investors and analysts had been counting on the success of the trial to boost the company’s growth prospects.
Market Reaction
On Friday, BRISTOL-MYERS SQUIBB COMPANY stock opened at $74.4 and closed at $73.8.
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Summary
The drug combination of Bristol Myers Squibb’s Opdivo and Yervoy failed to meet its primary endpoint in a phase 3 clinical trial in previously untreated patients with advanced renal cell carcinoma, the company said. The primary endpoint was overall survival. The news is a setback for Bristol Myers Squibb, which is relying on the Opdivo-Yervoy combo to drive growth.
