Mavacamten

Cytokinetics halts ALS trial for resedemtiv after phase 3 COURAGE-ALS shows no benefit over placebo. Following FDA rejection of heart failure drug omecamtiv mecarbil, focus shifts to aficamten for HCM, with phase 3 SEQUOIA-HCM results awaited. Aficamten faces competition from BMS's Camzyos in the HCM market.

Cytokinetics awaits FDA decision on aficamten for obstructive HCM by September 2025, aiming to rival BMS's Camzyos. Aficamten shows promise with a competitive clinical profile, potentially becoming a $3 billion product. Both companies also target non-obstructive HCM, with Cytokinetics conducting MAPLE-HCM and ACACIA-HCM studies.

Corxel Pharmaceuticals acquired VCT220, a Phase 2-ready oral GLP-1 agonist for obesity and diabetes, from Vincentage Pharma, excluding Greater China. Renamed CX11, it aims to offer a patient-friendly alternative to injectable GLP-1 drugs, with Phase 3 trials underway in China and global Phase 2 trials planned for 2025.

Merck licenses a GLP-1 candidate from Hansoh Pharma; Astellas collaborates with Sangamo for gene therapy; Betta Pharma's Ensacove gains FDA approval for lung cancer; Mitsubishi Tanabe attracts buyout interest; BeiGene licenses a MAT2A inhibitor; Candid Therapeutics forms new collaborations; BMS regains China rights to a RayzeBio candidate.

Tenaya Therapeutics shared 'encouraging' data from MyPEAK-1 trial of TN-201, treating MYBPC3-associated HCM, with biomarkers stable despite liver enzyme elevations. Stock dropped to $1.42 post-announcement.

Novocure's electrical field-emitting device in Phase 3 trial showed extended survival in pancreatic cancer patients when used with chemo; Merus licensed U.S. rights of its cancer drug zenocutuzumab to Partner Therapeutics; FDA to decide on Cytokinetics' heart drug aficamten approval by Sept. 26, 2025; FDA investigates blood cancer cases post-Bluebird bio's Skysona treatment; Fate Therapeutics' CEO Scott Wolchko to retire, with Bob Valamehr taking over in 2025.

Bristol Myers Squibb stock rose 10% after AbbVie's mid-stage clinical trials for Emraclidine failed, boosting BMY's recently FDA-approved schizophrenia drug Cobenfy. BMY's revenue rose 1% to $47 billion, with new drugs like Camzyos, Sotyktu, and Opdualag expected to generate over $1 billion each by 2026. Despite a slight decline in operating margin to 15.3%, BMY's recent acquisitions and Cobenfy's potential peak sales of over $6 billion suggest growth potential.

Bristol-Myers Squibb's stock rose 2.9% after Q3 earnings beat expectations, with revenue up 8% to $11.892B. The company raised full-year guidance, expecting EPS of 75-95 cents and revenue growth of 5%. Eliquis sales rose 11% to $3B, while newer products saw a 18% increase to $5.812B. Opdivo sales were up 4% to $2.36B.

Bristol Myers Squibb reported Q3 revenues of $11.89B, up 8% YoY, driven by Growth Portfolio and Eliquis. Growth Portfolio revenues rose 18% to $5.81B, led by Reblozyl, Breyanzi, Camzyos, and Opdualag. Opdivo sales grew 4% to $2.36B, and Abecma sales surged 33% to $124M. Eliquis sales reached $3B, offsetting Sprycel's decline. Adjusted EPS was $1.80, beating consensus of $1.49. The company anticipates $1.5B in cost savings for 2025 and forecasts 2024 adjusted EPS of $0.75-$0.95. BMY stock rose 5.18% to $55.39.