Date: 21-Nov-2019

Bristol-Myers misses main goal of late-stage skin cancer trial

Squibb Co said on Wednesday a late-stage trial testing a combination of its cancer drugs missed a main goal of preventing skin cancer from recurring in a certain group of patients, sending its shares down nearly 1%. The company said the trial will continue unchanged as per the recommendation of a data monitoring committee. The trial was testing Bristol-Myers' drugs Opdivo and Yervoy, against Opdivo alone, in patients with advanced melanoma. The combination failed to show a statistically significant benefit in patients whose tumors had 1% or lower levels of the PD-L1 protein being targeted, the company said. The American Cancer Society estimates that about 96,480 melanoma cases will be diagnosed in the United States this year. Bristol-Myers shares were trading at $55.99 before the bell.