Bristol-Myers Squibb Co. (BMY) shares were down 0.62% to $57.52 in early morning trading Wednesday after the company announced that its kidney cancer drug trial failed to show efficacy during trials.
The company said that while patients responded well during the late-stage study of its kidney cancer drugs Opdivo and Yervoy, survival rates without progression of the disease did not reach statistical significance.
Year to date, Bristol-Myers Squibb shares have fallen about 1%, and over the past 12 months, the stock has declined 0.74%.
The stock was down about 1% at Wednesday's market open.
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