Replies to post #238083 on Biotech Values

[DewDiligence]

From BMY’s PR:

[Relatlimab + Opdivo] is the first regimen to demonstrate a statistical benefit over anti-PD-1 monotherapy in metastatic melanoma.

This is true, but there’s a twist: For historical reasons, Opdivo + Yervoy was never tested against Opdivo monotherapy in 1L-melanoma. Rather, it was tested against Yervoy monotherapy.

[DewDiligence]

More takes on BMY’s Relatlimab data in 1L-melanoma:

https://finance.yahoo.com/news/bristol-myers-immunotherapy-combo-better-210005484.html (Reuters)

https://www.evaluate.com/vantage/articles/events/conferences/asco-2021-bristols-lag3-case-replacement-yervoy (Evaluate Vantage)

https://www.biopharmadive.com/news/bristol-myers-details-data-for-closely-watched-cancer-immunotherapy/600386/ (BiopharmaDrive)

https://twitter.com/DewDiligence/status/1395141087413538822 (my abbreviated take)

BMY is +1% in AH trading. The bump would presumably be higher if the positive PFS outcome had not been announced two months ago (#msg-162784750).