Bristol-Myers Squibb Co. (BMY) said a Phase 3 study of its
nivolumab treatment for melanoma was stopped early after an
analysis by an independent Data Monitoring Committee showed
evidence of superior overall survival compared with another
therapy.
Nivolumab is designed to target an immune-cell pathway known as
PD-1 ("programmed death receptor 1"), which acts as a brake on the
immune system to prevent it from attacking healthy cells. Cancer
cells can exploit the mechanism by latching on and using PD-1 to
escape destruction by the body's immune system. By blocking the
interaction, nivolumab allows the immune system to attack cancer
cells.
Bristol-Myers, Merck & Co., Roche Holding AG and other
companies are racing to bring new immunotherapy drugs to what
analysts predict will be a multibillion-dollar market.
Bristol Myers shares rose 2.6% to $49.55 in recent after-hours
trading.
--Peter Loftus and Ron Winslow contributed to this article.
Write to Tess Stynes at tess.stynes@wsj.com
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