Monday, 25 September 2017 07:50 AM
LONDON, UK / ACCESSWIRE / September 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for AbbVie Inc. (NYSE: ABBV), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ABBV. AbbVie and Bristol-Myers Squibb Co. (NYSE: BMY) declared on September 22, 2017, collaboration for a clinical trial to gauge the combination of AbbVie's investigational antibody-drug conjugate ABBV-399 and Bristol-Myers Squibb's immunotherapy Opdivo (nivolumab) in c-Met overexpressing non-small cell lung cancer (NSCLC). For immediate access to our complimentary reports, including today's coverage, register for free now at:
http://protraderdaily.com/register/
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ABBV and BMY. Go directly to your stock of interest and access today's free coverage at:
http://protraderdaily.com/optin/?symbol=ABBV
http://protraderdaily.com/optin/?symbol=BMY
As of now, the Companies have not disclosed the specific terms of the agreement, but it has been mentioned that AbbVie would sponsor the trial.
About the Clinical Trial
- A Phase-1b clinical study is in progress for evaluating the potential combination of Bristol-Myers Squibb's Opdivo with AbbVie's ABBV-399 in subjects with advanced c-Met overexpressing non-small cell lung cancer, who failed one prior line of chemotherapy.
- The study would basically investigate the potential efficacy of this unique combination. It could even expand into additional solid tumors in time.
What is Opdivo?
Opdivo is a programmed death-1 (PD-1) immune checkpoint inhibitor, which is designed to exclusively utilize the body's own immune system to help restore anti-tumor immune response. Basically, it has been designed to alleviate immune suppression. Since it uses body's own immune system to fight cancer, Opdivo has become a vital treatment option for various cancers.
Bristol-Myers Squibb's scientific expertise in the field of Immuno-oncology is the basis for Opdivo's global development program. The program comprises a wide suite of clinical trials across all phases, including Phase-3, in a variety of tumor types. As of now, over 25,000 patients have been enrolled in the clinical development program of Opdivo. These trials led to a deeper understanding of the prospective role of biomarkers in patient care, mainly concerning how patients could gain from Opdivo across the continuum of PD-L1 expression.
In July 2014, Opdivo was the only PD-1 immune checkpoint inhibitor to obtain regulatory approval globally. As of now, the drug has been approved in over 60 countries, including the United States, the European Union, and Japan. In fact, Bristol-Myers Squibb's Opdivo and Yervoy combination regimen was the first Immuno-Oncology combination to get regulatory approval for the treatment of metastatic melanoma in October 2015. Presently, the combination has been approved in over 50 countries, including the United States and the European Union.
What is ABBV-399?
ABBV-399 (telisotuzumab vedotin) is a first-in-class anti-c-Met antibody-drug conjugate, which targets both MET-amplified and c-Met-overexpressing tumors. At present, it is being evaluated to treat advanced solid tumors. C-Met expression is considerably higher in many solid tumors versus the normal tissue and is a marker of poor prognosis. ABBV-399 is currently an investigational compound, which means the FDA, or any other health authority has not yet evaluated the safety and efficacy of ABBV-399.
The Lookout for Possible Treatment Options for Cancer
Tom Hudson, M.D., Vice President - oncology early discovery and development at AbbVie shared his views on this development. He highlighted how Cancer is one of the most difficult, and challenging medical condition for patients as well as physicians. He stated that the therapeutic advances are being achieved every day, and the Company is dedicated to exploring the potential of its investigational compounds with other approved treatments. AbbVie aims to deliver a significant impact to all cancer patients through these consistent efforts.
Fouad Namouni, M.D., head of Development, Oncology, at Bristol-Myers Squibb also held similar views. He affirmed that Bristol-Myers continues to explore the potential of innovative combinations of medicines as a possible treatment option for patients with lung cancer. Evaluating the potential combination of Opdivo and AbbVie's early- and late-stage treatments will help discovery of new targets in combination with immunotherapy.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a leading global biopharmaceutical Company. It works to discover, develop and deliver innovative medicines intended to help patients suffering from serious diseases.
About AbbVie
AbbVie is a global, research-driven biopharmaceutical Company, which is committed to developing innovative advanced therapies for complex and critical conditions. It leverages its expertise, unique approach to innovation, and dedicated employees to significantly improve treatments across four primary therapeutic areas: immunology, oncology, virology, and neuroscience. The Company has a presence in over 75 countries, and its employees are dedicated to advancing health solutions for people around the world.
Last Close Stock Review
At the closing bell, on Friday, September 22, 2017, AbbVie's stock marginally climbed 0.08%, ending the trading session at $87.48. A total volume of 6.81 million shares have exchanged hands, which was higher than the 3-month average volume of 5.96 million shares. The Company's stock price soared 20.43% in the last three months, 33.31% in the past six months, and 34.42% in the previous twelve months. Moreover, the stock skyrocketed 39.70% since the start of the year. The stock is trading at a PE ratio of 21.36 and has a dividend yield of 2.93%. The stock currently has a market cap of $142.40 billion.
On Friday, September 22, 2017, the stock closed the trading session at $63.36, slightly rising 0.05% from its previous closing price of $63.33. A total volume of 3.67 million shares have exchanged hands. Bristol-Myers Squibb's stock price surged 11.86% in the last three months, 13.37% in the past six months, and 12.30% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 8.42%. The stock is trading at a PE ratio of 23.09 and has a dividend yield of 2.46%. At Friday's closing price, the stock's net capitalization stands at $104.26 billion.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: [email protected]
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily