Bristol-Myers Squibb Co. BMY, +0.10% said Friday the U.S. Food and Drug Administration has approved Opdivo as a treatment for certain patients with previously treated small cell lung cancer. The company said the approval makes Opdivo the first and only Immuno-Oncology treatment option for patients with metastatic small cell lung cancer whose cancer has progressed after platinum-based chemotherapy and at least one other line of therapy. The decision was based on overall response rate and duration of response and continued approval may be contingent on verification of clinical benefit in further confirmatory trials. Small cell lung cancer is one of two main types of lung cancer and accounts for 10% to 15% of all lung cancers. It is an aggressive form of the disease and is often only detected when it is at an advanced stage. Bristol-Myers shares rose 0.6% in premarket trade Friday, but are down 0.3% in 2018, while the S&P 500 SPX, +0.05% has gained 6%.
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