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Biotech Stocks Facing FDA Decision In August

Bristol-Myers Squibb Co
Bristol-Myers Squibb Co

The FDA decision on Bristol-Myers Squibb Co.’s (BMY) blockbuster cancer drug Opdivo in the proposed use of treating patients with small cell lung cancer whose disease has progressed after two or more prior lines of therapy is expected on August 16, 2018.

Opdivo is already approved for the treatment of advanced melanoma, advanced non-small cell lung cancer, advanced renal cell carcinoma, classical Hodgkin lymphoma, advanced squamous cell carcinoma of the head and neck, urothelial carcinoma, MSI-H or dMMR metastatic colorectal cancer, and hepatocellular carcinoma.

The drug generated annual sales of $4.95 billion in 2017, and quarterly sales of $1.51 billion in the first quarter of 2018.

BMY closed Wednesday’s (Jul 25) trading at $59.04, up 1.34%.