Replies to post #208764 on Biotech Values

[DewDiligence]

BMY/IPH.PA—Endpoints blog on failure of Lirilumab phase-2 in AML has some misleading comments:

https://endpts.com/bristol-myers-partner-innate-concedes-a-phii-flop-for-io-drug-lirilumab-in-fighting-aml

More than five years ago Bristol-Myers Squibb heralded a $465 million deal to partner with Innate Pharma on its natural killer cell cancer drug lirilumab.

Not exactly. The up-front amount BMY paid in the Lirilumab deal was only $35M (#msg-64935883).

This is the latest in a series of clinical setbacks for Bristol-Myers’ Opdivo, which has been pummeled by the swift advance of Merck’s Keytruda in front¬line lung cancer.

The failed phase-2 trial in AML did not even involve Opdivo—it tested Lililumab monotherapy vs placebo. BMY still plans to test Opdivo in combination with Lirilumab in several cancer types.