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Why Bristol Myers Squibb Stock Is Slumping Today

TheMotleyFool

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Why Bristol Myers Squibb Stock Is Slumping TodayPhoto, wide shot, wide-angle lens, Retail store, neutral atmosphere, photo by Joe Cornish: https://img.theapi.app/temp/5574eb69-dc38-42f3-aadd-6163ac8bd4a8.png

Bristol Myers Squibb (NYSE: BMY) stock was down by a noteworthy 5.4% as of 1:32 p.m. ET Monday afternoon. Bristol's share price is in retreat mode today after the company announced over the weekend that its mid-stage blood thinner candidate, milvexian, missed the mark on a composite endpoint consisting of new symptomatic ischemic stroke and new covert brain infarction at day 90.

Bristol is co-developing milvexian with Johnson & Johnson's (NYSE: JNJ) biopharma-oriented subsidary, Janssen. Despite these disappointing phase 2 results for a potential blockbuster medication, J&J's stock was only down by 0.56% at the time of this writing.

Image source: Getty Images.

Source Fool.com

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