biopharm, I have a more generic opinion on that rather then just HG/BMY.
I follow PPHM and the findings just confirmed at AACR that there is an "IN GENERAL" problem with the treatment of "cold tumours".
PS is a BIG BREAK because it has been EVOLVED as a break to serve during apoptosis (natural cell death) to avoid the immune system would mistake dying cells (and there damage and debris) for damaged cells due to an anomaly. If the immune system would do that we would continuously have fevers, headache, etc as the immune system would want us to rest/not consume any energy and use it all itself to produce immune cells and attack the dying cell.
SO I can understand that in patients with hot tumors, where there is already some immune reaction and T-Cell infiltration, the anti-PD-1 for instance (and other anti-IO's) might function because YOU NEED T-CELL in order to bind to their PD-1 receptor so you can PREVENT the T-Cell from binding with PD-L1 (which would disable the T-Cell from attacking the cell).
But in COLD tumors you do not have sufficient T-Cell penetration (what makes it a cold tumor) and hence the blocking of the PD-1 on the few T-cells does work on itself but the impact on the patient is neglectable because there are INSUFFICIENT T-CELL's.
Bavituximab is a GENERAL REGULATOR (not for nothing call global/upstream or systemic check point) that keeps PS from suppressing the immune system, then stimulates the immune system and as a result is said to CONDITION THE TUMOR ENVIRONMENT.
And that means that more T-Cell infiltration will occur and hence the tumor will WARM UP so to speak. From there the anti-IO drug takes over, it binds the, say, PD-1 receptors on the new T-Cell army and so those T-cells cannot be disabled by PD-L1-PD-1 binding which means the T-Cell will take care of the dying/infected cell.
So BMY, Merck, AstraZeneca, Roche, Novartis, etc ALL have the same problem and we know now from Dr Wolchok's lab at Memorial Sloan Kettering that CAR-T has the SAME problem.
BUT PPHM's Bavituximab works ALSO in CAR T combinations AND is NON TOXIC (which was the problem until now for OTHER agents used in CAR T).
SO I think the war is already busy and attempts are made behind the curtains to work with PPHM.
Cold and Hot tumors seems to be the hot attraction theses days and "Checkmate Pharmaceuticals" also on that path...
"Checkmate Pharmaceutical’s Lead Product Candidate CMP-001, Is A CpG-A That Converts Immunologically “Cold” Tumors To Immunologically “Hot” Tumors" http://checkmatepharma.com/technology
Reading the MOA it does not say exactly what it targets.... but says things similar to what PS Targeting does and says it makes checkpoint inhibitors work better...
I wonder how many are duplicating as much as they can....those PS Targeting traits...