Bristol Myers Squibb Stock Remains Undervalued After Positive Data From Clinical Trials

Bristol Myers Squibb Stock Remains Undervalued After Positive Data From Clinical Trials

Share to Linkedin The stock price of Bristol Myers Squibb (NYSE: BMY) has seen a 3% rise in yesterday's trading session (Jun 10), after the company announced positive data from phase three clinical trials of Breyanzi as a second line treatment in adults with relapsed or refractory large B-cell lymphoma. Breyanzi is Bristol Myers Squibb's chimeric antigen receptor T cell (CAR-T) therapy, which was first approved by the U. S. FDA in Feb 2021 for the treatment of LBCL after two or more lines of systemic therapy. The recent development means Bristol Myers Squibb is all set to challenge Novartis and Gilead Lifesciences, that currently offer therapies for the treatment of LBCL. In another development, the company announced positive data from phase two clinical trials of Reblozyl, for treatment of adults with non-transfusion dependent beta Thalassemia. Note that Reblozyl is already approved by the U. S. FDA for the treatment of Anemia in adults with beta Thalassemia who require regular red blood cell transfusions, and to treat Anemia in adults with lower-risk Myelodysplastic Syndromes. While Breyanzi's peak sales are estimated to be around $1. 0 billion, that for Reblozyl are touted to be north of $2. 0 billion. Label expansion