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
Debasement trade goes from strength to strength, as oil and cigarettes power the FTSE 100
Daily summary: US100 surges almost 1% 📈Crypto and precious metals on the rise
Why the Cac could be vulnerable to French political risk
Stock of the Month: Will Meta win the AI race?
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.