BMS-Nektar's Opdivo combo fails phase 3 in upset to once-largest licensing deal in biotech history

The largest biotech licensing deal in history at the time of its inking in 2018 has now gone belly up and will cause Nektar Therapeutics to make "substantial changes" to its operations in the coming weeks after "very upsetting" results showing the drug bempegaldesleukin failed a phase 3 study that was testing it in combination with Bristol Myers Squibb's Opdivo.