Pharma Stock Rises on Cleared Schizophrenia Treatment
BMYBristol-Myers Squibb(BMY) Schaeffers Investment Research·2024-09-27 23:43

Bristol-Myers Squibb Co (NYSE:BMY) is up 3.2% at $51.71, after the U.S. Food & Drug Administration (FDA) approved the pharma name's schizophrenia treatment, Cobenfy. This marks the first new treatment for the mental health condition in 70 years. Today's rise has BMY breaking into positive territory for 2024, and above pressure at the $51 level, which has been caping rallies since late July. Year over year, the equity is still down 11%. Options bulls have been quick to chime in after the news. So far, 47,000 ...