Bristol-Myers Squibb Co (NYSE:BMY)’s Improves Survival Rate?
This weekend, Bristol-Myers Squibb Co (NYSE:BMY) will present the clinical trial results for Yervoy, its melanoma drug. As per the results that have been assimilated from 12 different trials, involving 1,861 patients, Yervoy improved the survival rate of 225 of the patients. The studies showed that after around 3 years of treatment with this drug, many of the patients plateaued. Some patients have been studied for upto 10 years.
In a statement, Dana-Farber/Harvard Cancer Center’s Dr F Stephen Hodi said that this combined analysis is very encouraging. Especially when you take into consideration, the fact that metastatic-melanoma is an extremely aggressive cancer form. On a historical basis, patients have only a 6-9 months chance of survival. This drug is also called ipilimumab. It unleashes the immune system of the body and helps it fight cancerous tumors.
This drug is being tested by Bristol-Myers Squibb Co (NYSE:BMY) against numerous other cancers such as ovarian, lung and stomach cancer. Last month, the company said that the initial results from the late stage trial indicated that Yervoy has not been able to prolong the survival of prostate cancer patients who had previously received chemotherapy, in a significant manner.
In Friday’s trading session, Bristol-Myers Squibb Co (NYSE:BMY) dropped by 1.56%. The opening price of the shares was $46.59 which rose to an intraday high of $46.72 and dropped to a close of $46.20. Approximately 8.51 million shares were traded on Friday and the average volume of shares traded over a 30 day period was $6.81 million. The 52-week low of the shares was $30.64 and the 52-week high was $40.57. The company has a market cap of $76.06 billion.
Bristol-Myers Squibb Co (NYSE:BMY) is involved in discovering, developing, licensing, manufacture, marketing &distribution as well as the sale of bio-pharma products, globally.