Bristol-Myers Squibb Company (BMY) shares rallied Wednesday after the pharmaceutical giant said it would enroll more patients in a key Alzheimer's trial—a move that might sound concerning at first, but apparently signals something the market likes.
What Happened: The company found irregularities in how the ADEPT-2 study was conducted at a handful of sites. During a blinded review (meaning nobody knew who got the real drug versus placebo), Bristol Myers spotted the issues and decided to exclude patient data from those problematic sites before locking the database for analysis.
Here's where it gets interesting: After consulting with the FDA, an independent Data Monitoring Committee conducted an interim safety and efficacy analysis. Their recommendation? Keep going. The committee said the study should continue by enrolling additional patients to hit the original enrollment target. Bristol Myers remains blinded to the actual study data as it moves forward with additional enrollment.
The company framed the decision as proof of its commitment to maintaining scientific integrity. ADEPT-2 is a Phase 3 trial testing Cobenfy in patients dealing with psychosis related to Alzheimer's disease dementia. Investors should expect additional results from the broader ADEPT program by the end of 2026.
BMY Price Action: At the time of writing, Bristol-Myers shares were trading 5.89% higher at $51.09.
