BRISTOL MYERS SQUIBB

mRNA-based pharmaceuticals' licensing agreement deal values grew 800% from 2019 to 2024YTD, reaching $3.8bn in 2024, reflecting confidence in the technology beyond vaccines. Global sales for innovator mRNA-based pharmaceuticals were $22bn in 2023 and are projected to increase to $26.2bn by 2030. Major deals include GSK's $1.57bn agreement with CureVac for mRNA vaccines and Bristol Myers Squibb's $1.87bn collaboration with Repertoire Immune Medicines for autoimmune disease vaccines.

The FDA approved Cobenfy, a new oral drug by Bristol Myers Squibb, for schizophrenia, targeting a different neurotransmitter system than traditional antipsychotics. Cobenfy may alleviate symptoms like hallucinations and delusions without common side effects, potentially improving cognitive deficits and negative symptoms. Developed initially for Alzheimer’s, Cobenfy combines xanomeline and trospium chloride, offering hope for treatment-resistant schizophrenia and potentially revitalizing schizophrenia drug research.

Barclays analyst Carter Gould maintains Sell rating on Bristol-Myers Squibb (BMY) with a $43.00 price target, despite shares closing at $53.96. Gould, with a 52.88% success rate, covers Healthcare stocks like Eli Lilly & Co and Gilead Sciences. Bristol-Myers Squibb has a Hold consensus with a $49.55 price target, indicating an 8.17% downside. Morgan Stanley also maintains a Sell rating with a $37.00 target.

Recent Phase II data from iTeos and GSK's anti-TIGIT therapy belrestotug plus anti-PD-1 Jemperli shows promising response rates in NSCLC patients, despite high-profile failures in the TIGIT space. Despite setbacks, companies like Roche and Merck continue TIGIT studies, emphasizing trial design's impact on outcomes. Insights suggest anti-TIGIT therapy may benefit patients with high CD-155 expression, potentially as combination therapy. Recent positive results from iTeos/GSK and Gilead/Arcus indicate a possible turning tide in TIGIT therapeutics.

Pharmaceutical companies are increasingly collaborating with academic centers for early-stage drug discovery to mitigate rising R&D costs and risk exposure, as blockbuster drugs face generic competition and drug development becomes more complex.

Bristol Myers Squibb forms Autoimmunity Cell Therapy Network (ACTioN) to advance cell therapy for autoimmune diseases, addressing unmet needs and potential of CAR-T therapy.

Real-world outcomes of relapsed/refractory multiple myeloma patients treated with cilta-cel showed 89% overall response rate and 70% complete response, despite many being ineligible for the trial leading to its approval. Median 12-month progression-free survival was 68% and overall survival 82%, with similar serious side effects reported.

FDA approves Opdivo for resectable NSCLC, combining neoadjuvant platinum-doublet chemotherapy with adjuvant Opdivo post-surgery, based on CheckMate-77T trial results showing improved event-free survival and pathologic complete response rates.

E. Heath reports advisory/consulting, steering committee, honoraria/paid travel, speaker’s bureau, and research support from various companies. J.R. Ribeiro, K. Poorman, and J. Xiu report personal fees and other support from Caris Life Sciences. H. Mamdani reports other support and grants from Daiichi Sankyo, AstraZeneca, and Genentech. A.F. Shields reports personal fees from Caris Life Sciences. G.L. Lopes reports stock ownership, honoraria, consulting, research funding, travel, and other relationships with multiple companies. S.A. Kareff reports personal fees and travel grants from various organizations. M. Radovich and G.W. Sledge report other support from Caris Life Sciences. G.A. Vidal reports relationships with Guardant360, Gilead, BillionToOne, Genentech/Roche, GSK, and AstraZeneca. J.L. Marshall reports personal fees from Caris. No other disclosures were reported by the other authors.

FDA approves nivolumab (Opdivo) for neoadjuvant treatment with platinum-doublet chemotherapy and adjuvant treatment after surgery for resectable non–small cell lung cancer (NSCLC) without EGFR mutations or ALK rearrangements, making it the only PD-1 inhibitor approved in both settings for this patient population.