Biotech Values

[DewDiligence]

BMY/JNJ—Milvexian phase-3 fails_in ACS—(props_to PFE):

https://www.businesswire.com/news/home/20251113242684/en/Update-on-Phase-3-Librexia-ACS-Trial

Two other phase-3 Milvexian trials continue: primary stroke prevention in patients with atrial fib; and secondary stroke prevention following a stroke or TIA.

Milvexian’s phase-2 data were murky (#msg-169809402), so this phase-3 program was relatively high-risk. It may turn out that FXIa is not a better place to intervene in the coagulation cascade than FXa. This is plainly what PFE thought when PFE declined to partner with BMY on an FXIa “successor” to Eliquis.