BMS regains ground after Friday Opdivo-related losses

Bristol-Myers Squibb Co. (NYSE:BMY) gained $1.88 to $66.48 on Monday, recovering $3 billion of the $7.5 billion in market cap it lost on Friday when data showed its Opdivo nivolumab appeared to lose a competitive edge over other PD-1 and PD-L1 inhibitors in non-squamous non-small cell lung cancer (NSCLC).

On Friday, detailed results from the Phase II CheckMate -057 trial of Opdivo in non-squamous cell NSCLC didn't show a benefit for the human IgG4 mAb against PD-1 over docetaxel in a subgroup of patients with little or no PD-L1 expression. Data were released at the American Society of Clinical Oncology meeting in Chicago (see BioCentury Extra, May 29). ...