REUTERS: Bristol-Myers Squibb Co said on Tuesday an interim analysis of a late-stage trial testing a combination of its immuno-oncology drugs Opdivo and Yervoy met the main goal of extending life of previously untreated lung cancer patients.
Shares of the company rose 5per cent to US$56 in premarket trading.
The company said its therapies when administered alongside two courses of chemotherapy demonstrated superior overall survival compared to chemotherapy alone in patients with advanced non-small cell lung cancer, the most common form of the disease.
Data presented at a medical meeting last month showed that about 40per cent of patients with advanced lung cancer on the Opdivo-Yervoy combination were alive after two years, outperforming chemotherapy as a first-line treatment.
Opdivo and Yervoy compete with rival drugs from companies such as Merck & Co and Roche in several types of cancer.
Merck's Keytruda dominates the highly lucrative market for newly diagnosed advanced lung cancer. Shares of the company fell 2.6per cent to US$82.30 following the Bristol-Myers news.
The interim analysis builds on the positive results the Opdivo-Yervoy combination has previously shown in melanoma and renal cell carcinoma, said Bristol-Myers, adding that it will present full data from the trial at an upcoming meeting.
(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shinjini Ganguli)