Bristol Myers Stock Falls After Cobenfy Trial Setback. Why 1 Analyst Isn’t Worried. - Barron's
1. BMY's Cobenfy showed no significant improvement for schizophrenia treatment. 2. Drug approved by FDA in September; commercial implications are a concern. 3. Shares dropped 5.9% in premarket trading after disappointing trial results. 4. Analysts remain neutral; underlying trends still support Cobenfy's potential. 5. BMY set to report first-quarter earnings soon.