ONO PHARMA partners with Bristol Myers Squibb

TODAY'S ANNOUNCEMENT
Bristol-Myers Squibb (BMY), Bayer and Ono Pharmaceutical (OPHLY) have entered into a clinical collaboration agreement to evaluate the combination of Bayer's kinase inhibitor Stivarga and Bristol-Myers Squibb's / Ono's anti-PD-1 immune checkpoint inhibitor, Opdivo in patients with micro-satellite stable metastatic colorectal cancer, the most common form of mCRC. Regorafenib as monotherapy has demonstrated an overall survival benefit versus placebo in a Phase III study and has shown activity irrespective of micro-satellite status in a retrospective analysis from this study, though with limited responses observed. Around 95% of mCRC patients have MSS tumors, for which I-O monotherapy treatment approaches have shown limited activity. In a Phase 1b trial from Japan, the combination of regorafenib and nivolumab has shown 'promising' preliminary efficacy results. Further terms of the clinical collaboration were not disclosed.
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AVERAGE ANALYSTS PRICE TARGET $7.26
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 22

COMPANY PROFILE
Ono Pharmaceutical Co., Ltd. engages in the production, purchase, and sale of internal medicine, patch and injectable medicine. The company was founded by Ichibei Fushimiya in 1717 and is headquartered in Osaka, Japan.