Bristol-Myers Squibb (NYSE:BMY) Receives FDA Breakthrough Therapy Designation for Lung Cancer Drug

Bristol-Myers Squibb Company (NYSE:BMY) ranks among the best stocks to buy for retirement. The U.S. Food and Drug Administration awarded Bristol-Myers Squibb Company (NYSE:BMY) and SystImmune a Breakthrough Therapy Designation on August 18 for their experimental medication iza-bren, which is intended to treat advanced EGFR-mutant lung cancer.

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The designation is meant for patients with EGFR exon 19 or 21 mutations whose disease has worsened following treatment with EGFR tyrosine kinase inhibitors (TKIs) in addition to platinum-based chemotherapy.

The FDA’s ruling was backed by information gathered from three current clinical trials: two in China run by Biokin and a global study run by SystImmune. These trials provided preliminary data showing enhanced efficacy with a manageable safety profile.

A multinational biopharmaceutical corporation, Bristol-Myers Squibb Company (NYSE:BMY) is engaged in product discovery, research, licensing, manufacturing, marketing, and distribution.

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Disclosure: None. This article is originally published at Insider Monkey.