Today’s Research Reports on Stocks to Watch: IntelliPharmaCeutics International and Bristol-Myers Squibb
NEW YORK, NY / ACCESSWIRE / November 28, 2018 / It was a big sell off for IntelliPharmaCeutics on Tuesday despite encouraging FDA news. Shares of Bristol-Myers Squibb Company was also in the red after the company said that the CheckMate -451 Study did not meet its primary endpoint.
The Market Edge Initiates Coverage on:
IntelliPharmaCeutics International Inc.
https://marketedgereport.com/report/IPCI/
Bristol-Myers Squibb Company
https://marketedgereport.com/report/BMY/
IntelliPharmaCeutics International Inc. shares were down 39.70% yesterday on significant trading volume of a little over 12 million shares traded. Average trading volume for the stock is just about 516,000 shares. The stock hit a new low of $0.3402 despite the announcement that it has received final approval from the U.S. Food and Drug Administration for it's abbreviated new drug application for venlafaxine hydrochloride extended-release capsules in the 37.5, 75, and 150 mg strengths. The approved product is a generic equivalent of the branded product Effexor® XR sold in the U.S. by Wyeth Pharmaceuticals, LLC. CEO Dr. Isa Odid said, "We believe that the approval of our application for a generic version of Effexor® XR is a validation of the scope of our drug delivery technologies and formulation capabilities, and that it also demonstrates our regulatory capabilities and commitment to obtaining regulatory approvals for our pipeline of product candidates still awaiting FDA approval. We are actively exploring the best approach to maximize our commercial returns from this new approval."
Access The Market Edge's IntelliPharmaCeutics International Inc. Research Report:
https://marketedgereport.com/report/IPCI/
Bristol-Myers Squibb Company shares were down 3% on Tuesday with nearly 17 million shares traded. The company announced that the phase III CheckMate-451 study on immuno-oncology drug Opdivo in combination with Yervoy was unsuccessful. Per the press release, the "Phase 3 CheckMate -451 study did not meet its primary endpoint of overall survival (OS) with Opdivo (nivolumab) 1 mg/kg in combination with Yervoy (ipilimumab) 3 mg/kg versus placebo as a maintenance therapy for patients with extensive-stage small cell lung cancer (SCLC) without disease progression after completion of first-line platinum-based chemotherapy. No new safety signals were observed with Opdivo 1 mg/kg plus Yervoy 3 mg/kg in this study. " Shares of the Company are down over 16% year to date.
Access The Market Edge's Bristol-Myers Squibb Company Research Report:
https://marketedgereport.com/report/BMY/
Our Actionable Research on IntelliPharmaCeutics International Inc. (NASDAQ:IPCI) and Bristol-Myers Squibb Company (NYSE:BMY) can be downloaded free of charge at The Market Edge.
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SOURCE: MarketEdgeReport
