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Bristol-Myers shares drop 3% despite positive cancer drug trial results

Market News
12 Oct 2026
Proactive Investors
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Bearish
Bristol-Myers shares drop 3% despite positive cancer drug trial results

Bristol-Myers Squibb's shares fell 3% after its experimental cancer drug RYZ101 showed significant improvement in progression-free survival in a Phase 3 trial for advanced gastroenteropancreatic neuroendocrine tumors. The drug, developed by Bristol-Myers subsidiary RayzeBio, targets tumors resistant to previous lutetium-177 therapy. The company plans to discuss these positive results with the FDA as it considers regulatory submission, although the treatment remains investigational and unapproved. This development could fill a treatment gap for patients with limited options after lutetium-177 therapy fails.

Bristol-Myers Squibb's shares dropped 3.48% to USD 57.06 on Pluang as of Oct 13, 2026 00:51 WIB, moving further away from its 52-week high of USD 68.09 but still well above the 52-week low of USD 42.60. Despite the recent positive trial results, the stock's typical hold time on Pluang is 93 days, and it offers a dividend yield of 4.26%.

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