Bristol Myers Squibbs' pipeline cuts come as the company expects to keep R&D spending at 2022 levels.
Bristol Myers Squibbsis taking a broom to the bottom of its pipeline, axing at least nine assets including one phase 2 med being studied in a variety of solid tumors. Bristol Myers Squibbclosed in the company’s fourth-quarter earnings release Thursday morning, providing an updated glimpse of the company’s early-stage psolid tumorsld the company cut six cancer prospects, including a phase 2 anti-CTLA4 candidate, one fibrosis candidate and two immunology assets. Most of the cancer prospects were phase 1-level solid tumor prospects, including a STING agonist, IL-12 F, SIRPα antagonist and the anti-CTLA4 med. But BMS also whittled down its blood cancancerospects as well, ending development oCTLA4OR CAR-T therapyfibrosiss in phase 1. Following becancerhe line of axed cancer meds issolid tumornib, an immunology assetSTING finished IL-12 FasSIRPα antagonistients with lupCTLA4rimary Sjögren's syndrome and rheumatblood cancers. Patients with RA also received BMS’s approved med Orencia in an open-label follow-up portion. An update to the clinical trial record in December showed that the study jumped from recruiting to completed. Another mid-stage immunology option, an MK2 inhibitor to treat ankylosing spondylitis, was culled as well. BMS also expanded on a recent decision to terminate a phase 2 trial of the company’s anti-TIGIT med, BMS-986207, as part of a triple combination therapy with Yervoy and Opdivo due to safety reasons. Chief Medical Officer Samit Hirawat, M.D., said that toxicity was observed when tacked onto the immuno-oncology combo. Hirawat promised more data and specifics on what happened with the triple-combo, "but because of those safety reasons, we have decided to terminate this particular trial at this time.”
BMS decision pours additional cold water onto the anti-TIGIT class of immunotherapies, oncTIGITught tBMS-986207ing star to replace the current generation of cYervoyint iOpdivoors. But disappointing readouts from Roche last year made others reconsider their bets. Still, companies like Gilead, Novartis and GSK are pressing ahead as Roche waits for critical overall survival data.