Bristol Myers Squibb Stock Sees Mixed Trading Volume Amid FDA Approval and Layoffs
On April 11, 2025, Bristol Myers Squibb (BMY) experienced a significant decline in trading volume, with a 44.12% decrease compared to the previous day. The company's stock price also saw a slight increase of 0.50%. This fluctuation in trading volume and stock price can be attributed to several key developments related to Bristol Myers Squibb.
One of the most significant developments was the FDA's approval of Opdivo (nivolumab) plus Yervoy (ipilimumab) as a first-line treatment for unresectable or metastatic hepatocellular carcinoma. This approval marks a major milestone for Bristol Myers Squibb, as it expands the use of its immunotherapy combination for a broader range of cancer patients. The approval was based on the Phase 3 CheckMate-9DW trial, which demonstrated a statistically significant overall survival benefit compared to investigator’s choice of lenvatinib or sorafenib. This news is likely to have a positive impact on the company's stock price, as it highlights the effectiveness of its immunotherapy treatments and opens up new revenue streams.
Additionally, Bristol Myers Squibb announced that it will lay off 57 workers from its Redwood City facility. This news is likely to have a negative impact on the company's stock price, as it raises concerns about the company's financial health and its ability to maintain its workforce. However, the layoffs are part of a broader restructuring effort aimed at improving the company's long-term prospects.
Furthermore, Halozyme Therapeutics announced that the European Commission has approved the subcutaneous formulation of Opdivo (nivolumab) with ENHANZE® across multiple indications. This approval is expected to increase the convenience and accessibility of Opdivo for patients, potentially leading to increased demand for the drug and a positive impact on Bristol Myers Squibb's stock price.
