Replies to post #213148 on Biotech Values

[wdr7]

BMY -3%/AH on mixed outcome
p value for PFS is 0.03. Why it is not significant?

[DewDiligence]

BMY—CHECKMATE-214 in RCC stopped for superior efficacy—Opdivo/Yervoy superior OS to Sutent in primary-endpoint subgroup and entire population:

https://finance.yahoo.com/news/checkmate-214-study-evaluating-opdivo-105900824.html

Bristol-Myers Squibb...announced today that a Phase 3 study evaluating Opdivo plus Yervoy in patients with previously untreated advanced or metastatic renal cell carcinoma (RCC) met its co-primary endpoint, demonstrating superior overall survival (OS) compared to sunitinib in intermediate- and poor-risk patients.

The combination also met a secondary endpoint of improved OS versus sunitinib in all randomized patients. Based on a planned interim analysis, an independent Data Monitoring Committee (DMC) has recommended that the trial be stopped early.

…The safety and tolerability of the Opdivo plus Yervoy combination observed in CheckMate-214 was consistent with previous reports of this dosing schedule and similar across subgroups.

Three weeks ago (#msg-133869270) when BMY reported the ORR and PFS (but not OS) results from this trial, the stock sold off modestly.