Highlights of weekly biotech stock moves

Bristol-Myers Squibb Co. (NYSE:

BMY) gained $1.56 to $27.29 last week after FDA approved a BLA for IV Yervoy ipilimumab as first-line therapy for unresectable or metastatic melanoma. The approval includes a REMS and a boxed warning about the risk of severe to fatal immune-mediated adverse reactions due to T cell activation and proliferation. The stock move translates to an increase in market cap of about $2.7 billion. The pharma gained ipilimumab through its acquisition of Medarex Inc. for $2.4 billion in 2009...