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@starcahier 2 months ago

Bristol Myers up 5% after update on Cobenfy Alzheimer's study

Bristol Myers up 5% after update on Cobenfy Alzheimer's study

BMY shares gained 5.6% after the company announced they are continuing the Phase 3 ADEPT-2 study for Cobenfy in Alzheimer's psychosis. It seems the market was pricing in a potential failure here. The company found execution irregularities at a small number of trial sites and decided to exclude that data. While this pushes the final readout from late this year to next year, the data monitoring committee recommended continuing the study and enrolling more patients.
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@Simonwhite 2 months ago

Not the first time markets or users have been proved wrong. I love it!

@ProduceCut309 2 months ago

BMY catching a nice little glow-up on that trial update. Market clearly thought this thing was cooked, but turns out it just needed a cleanup and a reset. Still early, but hey…..a win’s a win.