Bristol Myers' Cobenfy Falls Short On Primary Endpoint In Phase 3 Schizophrenia Trial, Stock Slides
1. BMY's Cobenfy showed no statistical significance in the Phase 3 ARISE trial. 2. The treatment reduced PANSS scores but not significantly (P = 0.11). 3. Analyst predicts long-term sales potential for Cobenfy could reach $3.7 billion. 4. BMY plans to present detailed trial data at an upcoming medical conference. 5. Cobenfy's approval and usage in Alzheimer's could unlock significant market opportunities.