Jim Cramer: Bristol Myers Research is 'Right'

Investors need to read the Real Money commentary regarding Bristol Myers (BMY) - Get Report to get a real read on the stock, said TheStreet's Jim Cramer. Earlier this month, the New York City-based pharmaceutical company's lung cancer drug Opdivo failed in a late-stage clinical trial. AVEO Pharmaceuticals recently announced that it will work with Bristol-Myers on a clinical evaluation of its tivozanib drug in combination with Bristol-Myers' Opdivo drug. It will supply the Opdivo drug for use in a Phase I/II AVEO trial. The combination drug will be given to patients with advanced renal cell carcinoma.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.