Bristol-Myers Slumps as Opdivo Misses Key Lung-Cancer Goal

August 5, 2016 1:18 PM

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Bristol-Myers Squibb Co. slumped as much as 23 percent in early trading after saying that the use of its drug Opdivo as a single agent for lung cancer failed in a trial that would have been the basis for widely expanding use of the treatment.

Opdivo didn’t meet its primary goal of lengthening progression-free survival in patients with previously untreated advanced non-small cell lung cancer, compared with chemotherapy, the company said in a statement.

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