BMS Bails on Checkpoint Inhibitor Teaming with CytomX, Stock Sinks

Bristol Myers Squibb is leaving CytomX scratching its head with the “unexpected decision” to discontinue its partnered program for a more potent version of the BMS immunotherapy Yervoy. CytomX announced the update with its 2023 financial results late Monday, sending its stock tumbling around 20% in premarket trading Tuesday.