A delayed clinical trial actually boosted Bristol Myers Squibb’s stock. Here’s why.
Bristol Myers Squibb's stock rose by about 6% after the company announced a delay in the readout of a key Phase 3 clinical trial for its drug Cobenfy, intended for Alzheimer’s disease psychosis. The delay is due to the need to enroll more patients, pushing the data release to sometime next year instead of end-2025. This unexpected positive market reaction suggests investors may have factored in potential risks or are optimistic about the drug's eventual success.
https://www.marketwatch.com/story/a-delayed-clinical-trial-actually-boosted-bristol-myers-squibbs-stock-heres-why-b831896f?gaa_at=eafs&gaa_n=AWEtsqc48Kju44SXbv2zJBYTryhlZ3x2x6xGY1eAzbPYs1lyKuKlpYqQfWom&gaa_ts=693090a9&gaa_sig=j4cpB_-B7US5UbS2H7oFtn5ZYzX5IN755NGnPnEUJHMvc8BL-RY5nXx8A0-iZ9gGOV-c-4ectGwxtoHN7ngImw%3D%3D