The latest clinical news from Bristol Myers Squibb (NYSE: BMY) was quite encouraging, sufficient to drive the pharmaceutical giant's stock higher on an otherwise uninspired day for the broader stock market. Bristol Myers Squibb's share price experienced a nearly 2% bump, a notably better showing than the S&P 500 index's more than 1% decline.

Bristol Myers Squibb's good news from the lab was that its enduringly popular cancer drug Opdivo did quite well in its latest round of testing. Said testing was the phase 3 CheckMate-76K trial evaluating the drug as a stand-alone treatment in the adjuvant setting for patients with completely resected stage IIB/C melanoma -- a form of the most serious type of skin cancer.

The pharmaceutical company said that Opdivo met its primary endpoint in the trial, and "demonstrated a statistically significant and clinically meaningful benefit in recurrence-free survival (RFS) versus placebo at a pre-specified interim analysis."

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Source Fool.com