Value of a IO drug for treating patients with newly diagnosed, or first-line lung.
Bristol shares plummeted 19%, or a loss of $24 billion in market value, in premarket trading on the Opdivo disappointment.
Merck's stock price shot up 11%, a gain of nearly $18 billion in market value, in reaction because the Opdivo setback is seen as a win for the company's competing checkpoint inhibitor Keytruda.