Latest news with #BMY
Globe and Mail
7 hours ago
- Business
- Globe and Mail
Bristol Myers Collaborates With BNTX for Oncology Candidate
BMY announced a strategic collaboration agreement with BioNTech BNTX. Both companies have entered into an agreement for the global co-development and co-commercialization of BioNTech's investigational bispecific antibody BNT327 across numerous solid tumor types. BNT327 is a novel investigational bispecific antibody combining two complementary, validated mechanisms in oncology into a single molecule. Shares of BNTX surged on the deal announcement. Shares of Bristol Myers lost 12.8% year to date compared with the industry 's decline of 2.2%. More on BMY & BNTX Agreement Per the terms, BMY and BNTX will jointly develop and commercialize BNT327, including the development of BNT327 as monotherapy and in combination with other products. Both BMY and BNTX own the right to develop BNT327 independently in further indications and combinations, including combinations of BNT327 with proprietary pipeline assets. Per the terms, BMY will make an upfront payment of $1.5 billion to BioNTech. In addition, BNTX will also receive $2 billion in non-contingent anniversary payments through 2028. BioNTech is also eligible to receive up to $7.6 billion in additional development, regulatory and commercial milestones. Both the companies will jointly share development and manufacturing costs along with profits on an equal basis. BNT327, a next-generation bispecific antibody candidate, targets PD-L1 and VEGF-A. It is currently being evaluated in multiple ongoing trials with more than 1,000 patients treated to date, including phase III studies with registrational potential evaluating BNT327 as first-line treatment in extensive stage small cell lung cancer (ES-SCLC) and non-small cell lung cancer (NSCLC). A phase III study evaluating the candidate in triple negative breast cancer (TNBC) is planned to start by the end of 2025. Data from ongoing trials (on a preliminary basis) underscore the potential for combining anti-PD-L1 and anti-VEGF-A – two well-established therapeutic targets – into a single molecule to deliver synergistic clinical benefits for patients across multiple tumor types. BMY Looks to Diversify Business BMY is depending on newer drugs like Opdualag, Reblozyl and Breyanzi to stabilize its revenue base as its legacy drugs face generic competition. BMY earlier won FDA approval for xanomeline and trospium chloride (formerly KarXT), an oral medication for the treatment of schizophrenia, in adults, under the brand name Cobenfy. The approval broadens BMY's portfolio. Cobenfy represents the first new pharmacological approach to treating schizophrenia in decades. This drug is expected to contribute meaningfully to BMY's top line in the coming years. BMY has experienced a few pipeline setbacks in recent months, which negatively impacted its share price. The late-stage ODYSSEY-HCM study evaluating cardiovascular drug Camzyos for the treatment of adult patients with symptomatic New York Heart Association (NYHA) class II-III non-obstructive hypertrophic cardiomyopathy did not meet its dual primary endpoints. The top-line results from the phase III ARISE study on schizophrenia drug Cobenfy were also disappointing. The study is evaluating the efficacy and safety of the drug as an adjunctive treatment to atypical antipsychotics in adults with inadequately controlled symptoms of schizophrenia. Developing bispecific antibodies that target two proteins, namely PD-1 and VEGF, has lately been one of the lucrative areas in cancer treatment. In November, Merck signed a deal with China-based LaNova Medicines for the latter's PD-1xVEGF targeting bispecific antibody candidate, LM-299. The latest entrant into this space is Pfizer PFE, which recently entered a multi-billion-dollar deal with Chinese biotech 3SBio for the latter's PD-1/VEGF bispecific antibody SSGJ-707. The deal is expected to be complete in third-quarter 2025. BMY's Zacks Rank & Stocks to Consider Bristol Myers currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the pharma/biotech sector are Novartis NVS and Pfizer, both 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 Novartis' 2025 earnings per share (EPS) has risen from $8.47 to $8.74 over the past 60 days. EPS estimates for 2026 have jumped 20 cents to $9.02 during this timeframe. The stock has risen 18.6% so far this year. Pfizer's 2025 EPS estimate has risen from $2.97 to $3.06 in the past 60 days, while that for 2026 has gone up from $2.99 to $3.09 over the same timeframe. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months. Free: See Our Top Stock And 4 Runners Up Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novartis AG (NVS): Free Stock Analysis Report Bristol Myers Squibb Company (BMY): Free Stock Analysis Report Pfizer Inc. (PFE): Free Stock Analysis Report BioNTech SE Sponsored ADR (BNTX): Free Stock Analysis Report
Yahoo
a day ago
- Business
- Yahoo
Trump's steel tariffs, Bristol Myers-BioNTech, sports bet tax
Yahoo Finance host Brad Smith tracks today's top moving stocks and biggest market stories in this Market Minute, including the rally domestic steel companies are seeing after President Trump proposes a 50% steel tariff, Bristol Myers Squibb (BMY) licensing a cancer drug from BioNTech (BNTX), and Illinois lawmakers approving a tax hike on sports betting. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute.
Yahoo
a day ago
- Business
- Yahoo
BioNTech Stock Jumps on Bristol Myers Squibb Cancer Drug Collaboration
BioNTech's U.S.-listed shares surged more than 15% Monday morning after the company said it will partner with Bristol Myers Squibb. The companies will co-develop a drug currently in trials to treat several types of cancerous tumors. Bristol Myers Squibb will pay $1.5 billion to BioNTech up front, $2 billion in "non-contingent anniversary payments through 2028," and up to $7.6 billion in future payments possible based on certain milestones.U.S.-listed shares of BioNTech (BNTX) jumped more than 15% Monday morning after the German vaccine maker announced a collaboration with Bristol Myers Squibb (BMY). The companies will work together to develop and eventually sell BNT327, one of BioNTech's developmental antibodies that is in trials to treat a number of types of tumors. More than 20 trials are ongoing or planned to study the drug's effectiveness in treating certain lung, breast, and other types of cancer. Princeton, N.J.-based Bristol Myers Squibb "will pay BioNTech $1.5 billion in an upfront payment and $2 billion total in non-contingent anniversary payments through 2028." BioNTech is also eligible to receive up to $7.6 billion in future payments based on certain developmental and regulatory milestones, while the companies will share manufacturing costs and profits or losses. "Our collaboration with BMS, a pioneering leader in immuno-oncology, aims to accelerate and broadly expand BNT327's development to fully realize its potential," BioNTech CEO Dr. Ugur Sahin said. "Our focus remains on advancing high-impact, pan-tumor programs and combination strategies in oncology, with BNT327 complementing our antibody-drug conjugate programs and mRNA-based immunotherapies." U.S.-listed shares of BioNTech were up 17% in the opening hour of trading, while Bristol Myers Squibb stock was down less than 1%. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
2 days ago
- Business
- Business Insider
Analysts Offer Insights on Healthcare Companies: Arvinas Holding Company (ARVN) and Bristol-Myers Squibb (BMY)
Analysts fell to the sidelines weighing in on Arvinas Holding Company (ARVN – Research Report) and Bristol-Myers Squibb (BMY – Research Report) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks. Confident Investing Starts Here: Arvinas Holding Company (ARVN) Oppenheimer analyst Matthew Biegler reiterated a Hold rating on Arvinas Holding Company yesterday. The company's shares closed last Friday at $7.20. According to Biegler 's ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -14.6% and a 28.7% success rate. Biegler covers the Healthcare sector, focusing on stocks such as Acrivon Therapeutics, Inc., Day One Biopharmaceuticals, and Zentalis Pharmaceuticals. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arvinas Holding Company with a $14.66 average price target, implying a 95.5% upside from current levels. In a report released yesterday, Leerink Partners also downgraded the stock to Hold with a $9.00 price target. Bristol-Myers Squibb (BMY) Bernstein analyst Courtney Breen maintained a Hold rating on Bristol-Myers Squibb on May 31. The company's shares closed last Friday at $48.28. According to Breen is a 2-star analyst with an average return of -0.1% and a 27.8% success rate. Breen covers the Healthcare sector, focusing on stocks such as Merck & Company, Gilead Sciences, and Eli Lilly & Co. The word on The Street in general, suggests a Hold analyst consensus rating for Bristol-Myers Squibb with a $55.53 average price target, representing a 16.0% upside. In a report issued on May 16, BMO Capital also maintained a Hold rating on the stock with a $53.00 price target.
Yahoo
5 days ago
- Business
- Yahoo
Bristol Myers Loses 20.7% in 3 Months: Buy, Sell or Hold the Stock?
Shares of Bristol Myers BMY have lost 20.7% in the past three months compared with the industry's decline of 9.6%. The stock has also underperformed the sector and the S&P 500 during this period. While the year started on a positive note and BMY was faring well (outperforming the market), the stock has been on the downslide for the past couple of months. Image Source: Zacks Investment Research Even though the first-quarter performance was better-than-expected and BMY raised its annual revenue guidance, the stock declined thereafter, probably reflecting broader market concerns and investors' skepticism on BMY's growth prospects. Let us analyze Bristol Myers' fundamentals in such a scenario to help you deal with the stock going forward: Legacy Portfolio is being adversely impacted due to continued generic impact on Revlimid, Pomalyst, Sprycel and Abraxane, as well as the U.S. Medicare Part D redesign effect. Among these, blood thinner medicine Eliquis, for which BMY has a worldwide co-development and co-commercialization agreement with pharma giant Pfizer PFE, is the biggest contributor to the top line. Eliquis sales were down 4% in the first quarter due to the impact of Medicare Part D redesign in the United States. The company expects sales to steadily increase in the second half of 2025 due to the elimination of the coverage gap. BMY is depending on newer drugs like Opdualag, Reblozyl and Breyanzi to stabilize its revenue base as its legacy drugs face generic competition. Thalassemia drug Reblozyl, for which BMY has a collaboration agreement with Merck MRK, has put up a stellar performance since its approval, driven by strong growth in the first and second-line treatment of myelodysplastic syndromes (MDS)- associated anemia. The drug should contribute significantly in the coming decade. Revenue growth has been solid for the leading immuno-oncology drug Opdivo, driven primarily by volume growth. The FDA had earlier granted approval to Opdivo Qvantig (nivolumab and hyaluronidase-nvhy) injection for subcutaneous use. The European Commission (EC) recently approved the perioperative regimen of neoadjuvant Opdivo and chemotherapy followed by surgery and adjuvant Opdivo for the treatment of resectable non-small cell lung cancer at high risk of recurrence in adult patients whose tumors have PD-L1 expression ≥1%. The company recently received EC approval for the subcutaneous formulation of Opdivo across multiple solid tumor indications. Sales of CAR T cell therapy, Breyanzi, also continue to gain traction from the approval of new indications and expanded manufacturing capacity. Camzyos has also witnessed strong global uptake in obstructive HCM. BMY earlier won FDA approval for xanomeline and trospium chloride (formerly KarXT), an oral medication for the treatment of schizophrenia, in adults, under the brand name Cobenfy. The approval broadens BMY's portfolio. Cobenfy represents the first new pharmacological approach to treating schizophrenia in decades. This drug is expected to contribute meaningfully to BMY's top line in the coming years. BMY has experienced a few pipeline setbacks in recent months, which negatively impacted its share price. The late-stage ODYSSEY-HCM study evaluating cardiovascular drug Camzyos for the treatment of adult patients with symptomatic New York Heart Association ('NYHA') class II-III non-obstructive hypertrophic cardiomyopathy did not meet its dual primary endpoints. The top-line results from the phase III ARISE study on schizophrenia drug Cobenfy were also disappointing. The study is evaluating the efficacy and safety of the drug as an adjunctive treatment to atypical antipsychotics in adults with inadequately controlled symptoms of schizophrenia. Treatment with Cobenfy as an adjunctive demonstrated a 2.0-point reduction in the Positive and Negative Syndrome Scale total score compared to placebo with an atypical antipsychotic at week six. However, this data did not reach the threshold for statistical significance for the primary endpoint. While BMY's strategy of acquiring companies with promising drugs/candidates is encouraging, it has resulted in colossal debt to finance these acquisitions. As of March 31, 2025, the company had cash and equivalents of $12.1 billion and a long-term debt of $46.1 billion. Going by the price/earnings ratio, BMY's shares currently trade at 7.16x forward earnings, lower than its mean of 8.56x and the large-cap pharma industry's Source: Zacks Investment Research The Zacks Consensus Estimate for 2025 EPS has moved up to $6.89 from $6.75 in the 60 days, while that for 2026 has remained unchanged at $6.08. Image Source: Zacks Investment Research Large biotech companies are generally considered safe havens for investors interested in this sector. Drugs like Reblozyl, Breyanzi, Camzyos and Opdualag have enabled BMY to stabilize its revenue base amid generic competition for its legacy drugs. Approval of additional new drugs and label expansion of top drugs should further diversify its pipeline. However, generic competition is a major headwind for the company and the new drugs will take some time to offset this steep decline. The recent pipeline setbacks weigh on the stock. We recommend prospective investors to wait and watch for the time being. For investors already owning the stock, staying invested would be a prudent move. The company's attractive dividend yield (5.29%) is a strong reason for existing investors to stay invested. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report Pfizer Inc. (PFE) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
