BRISTOL MYERS SQUIBB (BMY) Company Report

The FDA approved lisocabtagene maraleucel (Breyanzi) as the first CD19-directed CAR T therapy for adults with relapsed/refractory marginal zone lymphoma after ≥2 prior systemic treatments .
In the TRANSCEND FL trial, Breyanzi achieved a 95.5% overall response rate and 62.1% complete response rate among 66 patients at a median 21.6-month follow-up .
Safety was manageable, with 76% cytokine release syndrome (4% grade 3; no grade 4/5) and 33% neurologic events (4% grade 3; no grade 4/5) .
This marks Breyanzi’s fifth FDA approval, extending its indications to five B-cell malignancies and adding authorizations in major international markets .

1 hour ago

Morningstar

Bristol Myers Squibb outlines growth portfolio and pipeline at Citi Healthcare Conference

BMY

Product Launch

New Projects/Investments

CFO David Elkins said the growth portfolio now accounts for >50% of revenues (up 18% YoY), with four products annualizing over $1 billion (Reblozyl >$2 billion). He reiterated targets for 10 new NMEs and 30 additional indications by 2030, backed by $17 billion cash and $1 billion of efficiency savings per year through 2027.
CCO Adam Lenkowsky reported Cobenfy’s weekly prescriptions (TRXs) approaching 2,700, outpacing recent schizophrenia launches, supported by strong Medicaid, Medicare, and commercial access.
The ADEPT Alzheimer’s psychosis program—including four Phase 3 trials—remains on track for a late-2026 readout, while additional Phase 3/4 studies in bipolar mania, autism irritability, and Alzheimer’s agitation and cognition are already underway.
BMS is advancing mid-late stage assets (Milvexian stroke prevention & AFib readouts in 2026; LPA1 in pulmonary fibrosis; CELMoDs Iberdomide/Mezigdomide) and expanding modality breadth through partnerships with Orbital (in vivo cell therapy), radiopharmaceuticals (Philochem), and BioNTech (VEGF/PD-1 combinations).

1 day ago

Transcript

Bristol Myers Squibb outlines 2026 growth priorities and pipeline at Citi Healthcare Conference

BMY

M&A

New Projects/Investments

Growth portfolio now represents over 50% of total revenue, growing 18% in Q3 2025, with four products annualizing above $1 billion and Reblozyl exceeding $2 billion.
Pipeline poised for 10 new NMEs and 30 additional indications by 2030, with key 2026 catalysts including iberdomide and mezigdomide (CELMoDs), LPA1 in pulmonary fibrosis, and late-stage Milvexian trials in secondary stroke prevention and AFib.
Deployment of AI across R&D, manufacturing, and internal processes is driving $1 billion in cost savings in 2025, with another $1 billion targeted for 2026–2027.
Commercial momentum includes Cobenfy approaching 2,700 weekly TRXs with strong Medicaid/Medicare access, and Opdivo’s subcutaneous “Cuvantic” formulation gaining accelerated conversion post–J-code implementation.
Strategic business development advances cell therapy via Orbital acquisition and a BioNTech PD-1/VEGF mRNA partnership, and expands the radiopharmaceutical portfolio with Philochem, alongside sourcing innovative assets globally including China.

1 day ago

Transcript

Bristol Myers expands ADEPT-2 Alzheimer's study after data review

BMY

New Projects/Investments

Bristol Myers Squibb will delay ADEPT-2 study results for Cobenfy until end of 2026 to enroll additional patients after inconsistencies at certain trial sites were identified.
The trial is a Phase 3, multicenter, randomized, double-blind, placebo-controlled study with primary endpoints on NPI-C Hallucinations & Delusions and secondary endpoints including CGI-S.
Bristol Myers maintains its FDA filing schedule, expecting cumulative ADEPT‐1 and ADEPT-4 results by the end of 2026 despite the ADEPT-2 delay.
Cobenfy, already approved for schizophrenia, aims to be the first treatment for agitation and psychosis in Alzheimer’s via muscarinic receptor agonism; Bristol Myers reported $48.03 billion in revenue and a 23.78% operating margin, with ~70% of sales in the U.S..
Shares rose about 5% to $50.76 in morning trading, reflecting cautious investor optimism.

2 days ago

Morningstar

Bristol Myers Squibb receives EU approval for Breyanzi in mantle cell lymphoma

BMY

Product Launch

European Commission approval for Breyanzi to treat relapsed or refractory mantle cell lymphoma after at least two prior systemic therapies, including BTK inhibitors, covering all EU member states plus Iceland, Norway, and Liechtenstein.
TRANSCEND NHL 001 trial data showed a 82.7% overall response rate, 71.6% complete response rate, median time to first response of 0.95 months, and 50.8% of patients in response at 24 months.
This marks the fourth European approval of Breyanzi, filling a critical treatment gap for patients with aggressive non-Hodgkin lymphoma.
Bristol Myers Squibb’s market capitalization is approximately $97 billion, with a debt-to-equity ratio of 2.75 and insider selling of 56,000 shares signaling moderate financial stress.

Nov 24, 2025, 10:52 PM

Morningstar

Bristol Myers Squibb announces early participation results and amendment of tender offers

BMY

Debt Issuance

As of the early tender deadline on November 17, 2025, Bristol Myers Squibb reduced the Pool 1 maximum from $4.0 billion to accept all valid tenders and increased the Pool 2 maximum from $3.0 billion to accept priority 1–4 notes and up to $250 million of 5.900% Notes due 2033.
All Pool 1 notes and Pool 2 notes at acceptance priority levels 1–4 were accepted at 100% proration, while the 5.900% Notes due 2033 were accepted on a 50.84% prorated basis for a $250 million allocation.
Bristol Myers Squibb elected its Early Settlement Right; the Early Settlement Date is set for November 20, 2025, and no further tenders are expected to be accepted after the early deadline.

Nov 18, 2025, 9:41 PM

8-K

Bristol Myers Halts Late-Stage Milvexian ACS Trial

BMY

Bristol Myers Squibb and Johnson & Johnson discontinued the late-stage milvexian trial in acute coronary syndrome after an interim analysis found it unlikely to meet its primary endpoint.
No new safety concerns were identified, and the companies will continue milvexian’s development in two other late-stage trials for atrial fibrillation and stroke prevention, with results expected in 2026.
Bristol Myers’ shares fell about 4% to $46.41 following the announcement, reflecting investor reaction despite ongoing confidence in the drug’s prospects.
The company maintains a strong financial position, with a market capitalization of ~$98.99 billion and a net margin of 12.57%.

Nov 14, 2025, 12:35 PM

Morningstar

Bristol-Myers Squibb issues €5 billion of senior notes

BMY

Debt Issuance

BMS Ireland Capital Funding DAC, a wholly-owned finance subsidiary of Bristol-Myers Squibb, issued €5 billion aggregate principal amount of senior unsecured notes, fully and unconditionally guaranteed by the Parent, under a new indenture dated October 31, 2025.
The offering comprised five euro-denominated tranches: €750 million 2.973% notes due 2030, €1,150 million 3.363% notes due 2033, €1,150 million 3.857% notes due 2038, €750 million 4.289% notes due 2045, and €1,200 million 4.581% notes due 2055, each priced at 100% and settling on November 10, 2025.
The notes are callable at par on specified “par call” dates, include make-whole redemption provisions prior to those dates, and feature an optional full redemption for certain tax events; there is no sinking fund.

Nov 10, 2025, 9:06 PM

8-K

Perspective Therapeutics reports 3Q 2025 results and business update

BMY

Earnings

Guidance Update

Clinical update: Updated interim data for [212Pb]VMT-α-NET Phase 1/2a showed a favorable safety profile with no DLTs or Grade 4–5 TEAEs, and eight patients enrolled in Cohort 3 (6.0 mCi) as of September 30, 2025; further data expected through 2026.
Cash runway: $174 million in cash, cash equivalents and short-term investments as of September 30, 2025, expected to fund planned clinical and operational activities into late 2026.
Q3 2025 financials: Grant revenue of $0.2 million; R&D expenses of $20.3 million; G&A expenses of $7.7 million; net loss of $26.0 million ( $0.35 per share).
Enrollment milestones: Cohort 2 enrollment closed in 2Q 2025 with 46 patients, and Cohort 3 opened in June 2025 with eight treated as of September 30, 2025.

Nov 10, 2025, 9:05 PM

Press Release

Prime Medicine reports Q3 2025 financial results

BMY

Earnings

Guidance Update

New Projects/Investments

R&D expenses: $44.0 M in Q3 2025 vs $40.3 M in Q3 2024; G&A expenses: $11.2 M vs $14.1 M.
Net loss of $50.6 M, improved from $52.5 M a year ago.
Cash, cash equivalents and investments of $213.3 M as of Sept 30, 2025, sufficient to fund operations into 2027.
Pipeline progress: IND/CTA planned for Wilson’s Disease in H1 2027 and for AATD in mid-2026, with initial clinical data expected in 2027.
Business updates: new PM577 preclinical data to be presented at AASLD; PM647 nominated for AATD with high editing efficiency and restoration of normal protein levels.

Nov 7, 2025, 12:00 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for BRISTOL MYERS SQUIBB.

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