Shares of Bristol-Myers Squibb Co (NYSE:BMY) ended Friday session in green amid volatile trading. The shares closed up +0.05 points or 0.09% at $53.92 with 13,326,712 shares getting traded. Post opening the session at $53.93, the shares hit an intraday low of $53.90 and an intraday high of $54.37 and the price vacillated in this range throughout the day. The company has a market cap of $90.18 billion and the numbers of outstanding shares have been calculated to be 1.66 billion shares.
On September 27, 2016 Bristol-Myers Squibb Company (BMY) and Nektar Therapeutics (NKTR) announced a new clinical collaboration to evaluate Bristol-Myers Squibb’s Opdivo (nivolumab) with Nektar’s investigational medicine, NKTR-214, as a potential combination treatment regimen in five tumor types and seven potential indications. Opdivo is a PD-1 immune checkpoint inhibitor designed to overcome immune suppression. NKTR-214 is an investigational immuno-stimulatory therapy designed to expand specific cancer-fighting T cells and natural killer (NK) cells directly in the tumor micro-environment and increase expression of PD-1 on these immune cells.
“We are excited to explore the potential benefits in multiple types of cancer of the combination of Opdivo with Nektar’s innovative cancer immunotherapy,” said Fouad Namouni, M.D., Head of Oncology, Bristol-Myers Squibb. “We believe that a combination regimen which utilizes two different and complementary mechanisms designed to harness the body’s own immune system to fight cancer has the potential to provide new treatment options for patients.”
The Phase 1/2 clinical trials will evaluate the potential for the combination of Opdivo and NKTR-214 to show improved and sustained efficacy and tolerability above the current standard of care in melanoma, kidney, colorectal, bladder and non-small cell lung cancer patients. An initial dose-escalation trial is underway with Opdivo and NKTR-214.
Bristol-Myers Squibb and Nektar will equally share costs of the combined therapy trials. Nektar will maintain its global commercial rights to NKTR-214.
“We’re very pleased to be collaborating with Bristol-Myers Squibb, a global leader in immuno-oncology, in order to advance quickly the development of NKTR-214 with a PD-1 immune checkpoint inhibitor,” said Howard W. Robin, President and CEO of Nektar Therapeutics. “NKTR-214 is designed to grow tumor infiltrating lymphocytes (TILs) in vivo and replenish the immune system, which is critically important as many patients battling cancer lack sufficient TIL populations to benefit from approved checkpoint inhibitor therapies. The combination of checkpoint inhibition with T cell growth could lead to synergistic effects that may provide a new treatment option for patients.”
Shares of CTI BioPharma Corp (NASDAQ:CTIC) ended Friday session in green amid volatile trading. The shares closed up +0.002 points or 0.65% at $0.374 with 224,225 shares getting traded. Post opening the session at $0.37, the shares hit an intraday low of $0.37 and an intraday high of $0.38 and the price vacillated in this range throughout the day. The company has a market cap of $106.50 million and the numbers of outstanding shares have been calculated to be 282.72 million shares.
CTI BioPharma Corp (CTIC) announced that on September 20, 2016, the NASDAQ Listing Qualifications staff granted the Company an additional 180 calendar day period, or until March 20, 2017, to regain compliance with the Minimum Bid Price Rule. To do so, the bid price of the Company’s common stock must close at or above $1.00 per share for a minimum of 10 consecutive trading days prior to that date.