Bristol-Myers Lung-Cancer Data a `Mixed Bag' in Key Trial
- Patients showed improvement, but ‘many unknowns:’ analyst
- Shares pare earlier gains after investors digest results
Photographer: David Paul Morris/Bloomberg
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Patients in a closely watched study of Bristol-Myers Squibb Co.’s experimental lung-cancer treatment showed improvement, but the positive data came only after the drugmaker had made changes to the trial’s design.
The trial adjustments made it unclear what the results mean in the competitive race for lung-cancer drugs. Summarizing the confusion created by the data on Monday, Evercore ISI analyst Umer Raffat said in a note to investors that the results had three components: “The good, the not-so-good, and the many unknowns.”