BMY Stock Rises as FDA Reviews Cardiac Medication Camzyos for Broader Usage

BMY Stock

 BMY stock was trading at $72.09 as of 12:48 PM EDT.

The U.S. Food and Medicine Administration (FDA) agreed to examine Bristol Myers Squibb’s (NYSE:BMY) request for enhanced approval of the cardiovascular drug Camzyos (mavacamten) in order to decrease the requirement for septal reduction therapy (SRT).

Camzyos is now licensed in the United States to treat people with symptomatic New York Heart Association (NYHA) class 2-3 obstructive hypertrophic cardiomyopathy (HCM) so that their symptoms get better and they can do more.

In a news release on Friday, the company said that the FDA is likely to decide on the supplementary new drug application (NDA) by June 16, 2023. SRT is recommended for a lot of people with severe symptoms of obstructive hypertrophic cardiomyopathy. Roland Chen at Bristol-Myers says, “This often requires either open-heart surgery or a septal ablation procedure, both of which are options for specialist care.”

BMY Stock Outlook  

As Bristol Myers Squibb prepares to release its next earnings report, Wall Street will be watching for encouraging signs from the company. This is anticipated to occur on October 26, 2022. Experts think that Bristol-Myers Squibb will say in that report that it made $1.82 per share. This would be a 9% reduction from last year. The revenue is expected to be $11.04 billion, down 4.99% from the same quarter last year, according to our most recent average estimate.

The Zacks Consensus Estimates say that BMY will make $7.52 per share and $45.8 billion in sales for the whole year. These outcomes would signify changes of +0.13% and -1.26%, respectively, from the previous year.

Investors should also pay attention to any changes that analysts have made to their predictions for Bristol-Myers Squibb in the past few months. These updates help show how quickly business trends can change in the near future.

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Featured Image-  Megapixl @ Rafaelhenriquepress

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