Major NJ Pharmaceutical Company Lays Off Hundreds

Bristol Myers Squibb (BMY) reported positive Phase 2 results for its experimental cell therapy, arlo-cel, in heavily pretreated relapsed and refractory multiple myeloma. The trial met primary and key secondary endpoints, showing significant overall and complete response rates. The company also presented long-term data for Camzyos (mavacamten), showing sustained efficacy and safety in symptomatic obstructive hypertrophic cardiomyopathy (oHCM) patients over five years. Shares of Bristol-Myers Squi

Bristol Myers Squibb (BMY) received FDA accelerated approval for ZENBEXUS (iberdomide) in combination with daratumumab and dexamethasone for relapsed or refractory multiple myeloma. The approval is based on Phase 3 trial data showing improved MRD-negative complete response rates. ZENBEXUS carries boxed warnings for embryo-fetal toxicity and thromboembolism. Analysts forecast U.S. sales to exceed $1 billion annually by 2031. BMY shares were down 1.36% at $63.77 at the time of publication.

Bristol Myers (BMY) reported positive two-year data from the POETYK PsA-2 study on Sotyktu, showing sustained efficacy and consistent safety. Sotyktu's PsA approval expands its market, with $156M revenue in H1 2026. BMY's growth portfolio includes Sotyktu, with competition from Amgen's Otezla and Takeda's zasocitinib. BMY shares up 16.5% YTD, trading at 9.58x forward earnings.

Bristol Myers Squibb (BMY) halted development of ORM-6151, a degrader-antibody conjugate licensed from Orum Therapeutics (475830), after reviewing Phase I trial data. Orum disclosed the termination in a financial filing.

Bristol Myers Squibb (BMS) has discontinued development of ORM-6151, a targeted degrader therapy acquired from Orum Therapeutics in 2023. According to Orum's regulatory filing, BMS reviewed Phase 1 data and decided to stop further development. The deal, worth $100 million upfront and up to $80 million in milestones, will not require Orum to return the initial payment. Orum still has $180 million in cash and plans to focus on its remaining pipeline and DAC platform.

Bristol Myers Squibb (BMY) reported that Sotyktu (deucravacitinib) showed durable efficacy and consistent safety over two years in psoriatic arthritis patients. Key metrics like ACR 20/50/70 and MDA improved and were maintained. The FDA approved Sotyktu for this use in March. BMY shares were down 0.35% to $63.38 at the time of publication.