Medarex & Bristol-Myers Show Positive Metastatic Melanoma Data (BMY, MEDX)

There is some very hopeful data out there this morning on cancer survival.  Bristol-Myers Squibb Co. (NYSE: BMY) and Medarex, Inc. (NASDAQ: MEDX) have released updated survival data from three Phase II studies of ipilimumab in patients with advanced metastatic melanoma in Stage III or IV levels who had previously been treated showing that approximately half of patients who received ipilimumab remained alive beyond one year.

The results are based on follow-up of the patient population fromstudies 008, 022 and 007 and show a consistent one-year survival ratebetween 47% and 51% as follows:

• One-year survival rate of 47% in patients who had progressed while onor after receiving standard treatment (Study 008);follow-up for survival was up to 24.8 months.
• One-year survival rate of 48% in patients who were previously treated,relapsed or failed to respond to experimental treatment or were unableto tolerate currently approved therapies (Study 022);follow-up for survival was up to 21.88 months.
• One-year survival rate of 51% in patients previously treated withtherapy other than ipilimumab (Study 007); follow-upfor survival was up to 26.32 months.

Currently shares are up over 2% at $7.05.  If the markets weren’t doingso poorly today on the bailout mergers and failures in the financialstocks then this might be getting more attention.

Jon C. Ogg
September 15, 2008