BMY Stock Price – Bristol-Myers Squibb Co. Stock Quote (U.S.: NYSE)


Bristol-Myers surges 5.6% on advanced lung cancer trial results, Q4 earnings

Bristol-Myers Squibb Co. shares surged 5.6% in premarket trade on Monday after the company reported positive results for its Opdivo and Yervoy cancer drug combination in a late-stage clinical trial, along with fourth-quarter profit and revenue beats. In the phase 3 trial, the two-drug combination improved progression-free survival in patients with advanced lung cancer as compared with chemotherapy. The trial will continue because an interim analysis looking at overall survival looked promising. Advanced lung cancer in a competitive space, and rival Merck & Co. recently reported positive results as well. Merck shares dropped 1.6% in premarket trade, while Astrazeneca , another rival, had shares fall 1.5%. Also on Monday, Bristol-Myers reported a loss of $2.33 billion, or a loss of $1.42 per share, after earnings of $894 million, or 53 cents per share in the year-earlier period. Adjusted earnings-per-share were 68 cents, compared with the FactSet consensus of 67 cents. The results include “the significant transitional impact” of the U.S.’s corporate tax overhaul, including a one-time $2.9 billion charge in the fourth-quarter, Bristol-Myers said. Revenue rose to $5.45 billion from $5.24 billion, compared with the FactSet consensus of $5.35 billion. Sales of Opdivo, Eliquis, Sprycel and the company’s Sustiva franchise came in above the FactSet consensus, while sales of Orencia, Yervoy, Empliciti, its Hepatitis C franchise, Baraclude and Reyataz came in below consensus. The company expects 2018 adjusted EPS of $3.15 to $3.30, compared with the FactSet consensus of $3.23, and worldwide revenue increases in the low- to mid-single digits. Bristol-Myers shares have lifted 2% over the last three months, compared with a 6.7% rise in the S&P 500 and a 8.4% rise in the Dow Jones Industrial Average .




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