Bristol-Myers Squibb Slips to 121st in Trading Volume Amid $11.1 Billion Cancer Drug Deal with BioNTech

On June 2, 2025, Bristol-Myers Squibb (BMY) experienced a significant decline in trading volume, with a total of 6.56 billion shares traded, marking a 34.36% decrease from the previous day. This placed Bristol-Myers at the 121st position in terms of trading volume for the day.

Bristol-Myers Squibb has entered into a substantial agreement with BioNTech, committing up to $11.1 billion to license a next-generation cancer drug. This deal underscores the intensifying competition in the immuno-oncology sector, where pharmaceutical companies are vying for a share of a market projected to reach $60 billion annually by 2027. BioNTech will receive an initial payment of $1.5 billion, with an additional $2 billion in installments through 2028, and potential milestone payments of up to $7.6 billion. The partners will share development and manufacturing costs and profits equally.

This agreement is part of Bristol-Myers' strategy to bolster its pipeline ahead of upcoming patent expirations. The deal follows a similar agreement by Pfizer with 3SBio, highlighting the growing interest in immuno-oncology treatments that combine existing technologies with new approaches to enhance effectiveness. BioNTech's compound, BNT327, was originally licensed from Biotheus and later acquired outright, marking a significant milestone for the German biotech company.

The new category of cancer treatments, which includes BNT327, aims to improve upon existing immuno-oncology therapies by combining them with medicines that cut off the blood and oxygen supply to tumors. This approach seeks to make treatments more effective for a broader range of patients. However, the long-term efficacy of these new drugs remains to be seen, as data from head-to-head studies against established treatments like Keytruda are still years away.