Good News for Opdivo Shows Why You Shouldn't Give Up on Bristol-Myers Squibb Stock

Good News for Opdivo Shows Why You Shouldn't Give Up on Bristol-Myers Squibb Stock

Bristol-Myers Squibb (NYSE: BMY) investors might have been just a bit worried on Wednesday. After all, the U.S. Food and Drug Administration (FDA) had just placed a partial clinical hold on three clinical trials for Opdivo in combination with other drugs in treating multiple myeloma. Those worries melted away the next day, however.

On Thursday, Bristol-Myers Squibb (BMS) announced one of the best things that can happen with a late-stage study. The big drugmaker said the phase 3 CheckMate-214 study of Opdivo and Yervoy in treating renal cell carcinoma (RCC) was being stopped early. Why? The overall survival results were so positive, there was no reason to continue. 

For investors who had thought about throwing in the towel on BMS stock, the latest Opdivo news shows why that might not be a good idea. Here's why.

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Source: Fool.com