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Bristol Myers Squibb's Cobenfy Fails Again in Trials

4/23/2025

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Summary

Story summary

Bristol Myers Squibb faces a major blow as its schizophrenia drug, Cobenfy, falters in a Phase 3 study, its second failure this month. The trial revealed no significant benefits over a placebo, prompting analysts to slash sales forecasts. The company now seeks to analyze the results and engage with regulators on the future of Cobenfy.

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Story summary

Bristol Myers Squibb faces a major blow as its schizophrenia drug, Cobenfy, falters in a Phase 3 study, its second failure this month. The trial revealed no significant benefits over a placebo, prompting analysts to slash sales forecasts. The company now seeks to analyze the results and engage with regulators on the future of Cobenfy.