Bristol Myers (BMY.US) shares are up 4% ahead of the week’s final session on Wall Street after the drugmaker won approval from the U.S. Food and Drug Administration for its novel drug Cobenfa as a treatment for schizophrenia in adults. Analysts have commented that the FDA approval could help Bristol approve its acquisition of Karuna Therapeutics, which would theoretically expand BMY’s sales capabilities.
The FDA-approved drug is notable for being the first antipsychotic drug to target cholinergic receptors rather than dopamine receptors, which could be safer for patients in some situations. It is the first approved drug for schizophrenia in 30 years.
The stock is gaining ahead of the open and is trading well above the 200-day EMA (golden line on the chart), which could define the overall trend in the stock over the long term. Source: xStatio
Euphoria hits semiconductor stocks 📈 KLA Corp hits an all-time high
Experimental drug suspended❓💊 Shares od Disc Medicine lose as much as 7% 🚨
Divorce of Europe and the USA over Greenland
The commodity sell off extends, as tech stocks surge and US banks recover
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
