Bristol-Myers Partners Array to Investigate Cancer Candidate

An image of a pen on an open laptop Credit: Shutterstock photo

Bristol-Myers Squibb CompanyBMY and Array BioPharma ARRY entered into a clinical research collaboration to investigate the safety, tolerability and efficacy of Array's binimetinib in combination with Bristol-Myers Squibb's Opdivo (nivolumab) and Opdivo + Yervoy (ipilimumab) regimen. The combination will be assessed to treat metastatic colorectal cancer in patients with microsatellite stable tumors.

Bristol-Myers' shares have lost 7.7% year to date against the Zacks classified Large Cap Pharmaceuticals industry's gain of 9.1%.

The phase I/II study is anticipated to begin in the second half of 2017, and the results from this study will be used to determine optimal approaches to advance the development of these combinations. The study will evaluate the preliminary anti-tumor activity of combining binimetinib with Opdivo as well as binimetinib in combination with the Opdivo + Yervoy regimen. Per the agreement, Array and Bristol-Myers Squibb will jointly support the study sponsored by the former.

However, we remind investors that in Mar 2017, Array withdrew its new drug application (NDA) for its binimetinib, from the FDA's Division of Oncology Products 2. The candidate was being evaluated as a monotherapy for the treatment of NRAS-mutant melanoma, a rare, mutationally-driven subset of skin cancer.

In fact, the decision to withdraw the NDA was based on thorough discussions with the FDA, following late cycle review meeting held with agency. According to the feedback received from the FDA, the clinical benefit demonstrated in the phase III NEMO study was not sufficient to support the NDA for that indication. Nonetheless, the action will not impact the other ongoing trial on the drug.

Recently, Bristol-Myers also collaborated with Advaxis, Inc. ADXS to evaluate ADXS-DUAL, an investigational immunotherapy targeting HPV-associated cancers, and the former's Opdivo, as a potential combination treatment option for women with metastatic cervical cancer. The study is expected to start by the end of 2017 and will assess this combination regimen in women with persistent, recurrent or metastatic (squamous or non-squamous cell) carcinoma of the cervix who have failed at least one prior line of systemic chemotherapy.

Bristol-Myers Squibb Company Price

Bristol-Myers Squibb Company Price | Bristol-Myers Squibb Company Quote

Zacks Rank & Stock to Consider

Both Bristol-Myers and Array carry a Zacks Rank #3 (Hold). Another better-ranked stock in the health care sector is VIVUS, Inc. VVUS sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

VIVUS' loss per share estimates narrowed from 50 cents to 39 cents for 2017 over the last 30 days. The company posted positive earnings surprises in all of the four trailing quarters with an average beat of 233.69%.

More Stock News: 8 Companies Verge on Apple-Like Run

Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>

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

VIVUS, Inc. (VVUS): Free Stock Analysis Report

Array BioPharma Inc. (ARRY): Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.