Shares of Bristol Myers Squibb (BMY) fell ~5% in the premarket on Friday after the company said that a Phase 3 trial for milvexian, an anticoagulant it is advancing with Johnson & Johnson (JNJ), is unlikely to meet its primary goal.
Concurrently, the New Jersey-based pharma giant said that as a result, it will discontinue its Librexia ACS trial, which evaluated milvexian with standard of care in patients who suffered from a recent Acute coronary syndrome event.
The decision is based on an interim analysis conducted by an Independent Data Monitoring Committee, which indicated that the trial is unlikely to meet its primary efficacy endpoint.
However, the company said that milvexian, which represents a novel category of anticoagulant agents, didn’t raise any new safety concerns and that its safety profile was in line with data from prior studies.
Bristol Myers (BMY) noted that it will continue two other trials as part of its Librexia clinical trial program for milvexian following IDMC recommendations. Librexia AF for patients with atrial fibrillation and Librexia STROKE for secondary stroke prevention are expected to topline next year.