Bristol-Myers Squibb ( BMY) said Tuesday after the market close that the Food and Drug Administration approved its Ixempra as a monotherapy to treat patients with metastatic or locally advanced breast cancer. The FDA approved the drug as a monotherapy for patients whose tumors are resistant or unresponsive to anthracyclines or taxanes, as a combination with capecitabine for patients resistant to anthracycline and taxane, or for those unable to take anthracycline anymore. Bristol-Myers Squibb said it expects Ixempra to be available in days. Shares closed at $29.24, but rose 2.6% to $30 in recent after-hours trading.
Stocks soar as the gross domestic product rises at an annualized rate of 3.5% in the third quarter and continuing jobless claims fall. Gregg Greenberg recaps the action in The Real Story video (above).