BRISTOL MYERS SQUIBB (BMY) Company Report

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

Bristol Myers Squibb announces cash tender offers for outstanding notes

BMY

On November 3, 2025, Bristol Myers Squibb commenced cash tender offers to purchase up to $7 billion aggregate purchase price of its outstanding notes, split into Pool 1 ($4 billion) and Pool 2 ($3 billion).
Pool 1 offers target six series of notes maturing from 2026 to 2029, with acceptance priority levels 1–6, fixed spreads of 10–20 bps and an early tender premium of $50 per $1,000 note.
Pool 2 offers cover nine series of notes due between 2031 and 2097, with fixed spreads of 25–140 bps and an early tender premium of $50 per $1,000 note.
Holders must tender by November 17, 2025 to receive total consideration (including premium); offers expire on December 3, 2025, and are conditioned on a new debt issuance by a subsidiary plus $3 billion of Bristol Myers Squibb’s cash on hand.

Nov 3, 2025, 11:09 AM

8-K

Bristol Myers Squibb launches cash tender offers for notes

BMY

Bristol Myers Squibb has commenced cash tender offers to repurchase up to $4.0 billion of Pool 1 Notes and $3.0 billion of Pool 2 Notes.
Pool 1 comprises six series of notes due 2026–2029 and Pool 2 comprises nine series due 2031–2097, each ranked by acceptance priority for potential proration.
The offers are conditioned on a new debt issuance by a BMS subsidiary and the use of approximately $3.0 billion of Bristol Myers Squibb’s cash on hand to fund the purchases.
Holders must tender by 5:00 p.m. (NYC) on November 17, 2025 to receive the Total Consideration (including the early tender premium), with the offers expiring at 5:00 p.m. on December 3, 2025.

Nov 3, 2025, 9:55 AM

Press Release

Bristol Myers Squibb beats Q3 2025 expectations, raises 2025 outlook

BMY

Earnings

Guidance Update

Bristol Myers Squibb reported $12.22 billion in Q3 revenue and adjusted EPS of $1.63, both above analysts’ estimates.
The growth portfolio surged 18% to $6.9 billion, led by immuno-oncology products and new launches such as Reblozyl (+37%), Camzyos (+89%) and Breyanzi (+60%).
The legacy segment declined 12% amid generic competition, while Eliquis sales rose 25% to $3.75 billion.
Full-year 2025 revenue guidance was raised to $47.5–48.0 billion with adjusted EPS outlook of $6.40–6.60.
Liquidity remains adequate (current ratio 1.21, quick ratio 1.11), but high leverage (debt-to-equity 2.92) and an Altman Z-Score of 1.79 signal distress risk.

Oct 30, 2025, 5:16 PM

Bloomberg

Bristol Myers Squibb reports Q3 2025 results

BMY

Earnings

Guidance Update

M&A

Total Q3 sales of $12.2 billion with the growth portfolio up 17% YoY, driven by oncology and hematology brands.
OPDIVO sales reached $2.5 billion (+6%), Eliquis $3.7 billion (+23%), with REBLOZYL ($615 M), BREYANZI ($359 M) and CAMZYOS ($296 M) all demonstrating double-digit growth.
Raised full-year revenue guidance by $0.75 billion to $47.5–48.0 billion and maintained EPS guidance at $6.40–6.60, reflecting continued portfolio strength.
Completed acquisition of Orbital Therapeutics for off-the-shelf CAR T asset OTX-201, licensed Onco ACP 3 from Phylochem, and opened a U.S. radiopharmaceutical manufacturing hub.
Advanced pipeline with positive Phase III Excalibur results for iberdomide, Breakthrough and Fast-Track designations for isobren and anti-tau antibody, and multiple pivotal readouts expected over the next 12–24 months.

Oct 30, 2025, 12:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for BRISTOL MYERS SQUIBB.