Golcadomide Hydrochloride

Late-breaking Phase 3 SUCCESSOR-2 study results highlight potential of mezigdomide, a novel CELMoD from the Company’s targeted protein degradation platform, in relapsed or refractory multiple myeloma Additional data from the Company’s differentiated pipeline including pumitamig, iza-bren, iberdomide and golcadomide to also be presented at meeting PRINCETON, N.J.--(BUSINESS WIRE)-- Bristol Myers Squibb (NYSE: BMY) today announced the presentation of data from its oncology portfolio and pipeline at the 2026 American Society of Clinical Oncology (ASCO®) Annual Meeting to be held May 29 – June 2 in Chicago, Illinois. Across more than 60 disclosures and 19 oral presentations, the Company will highlight progress from its differentiated oncology pipeline in solid tumors and hematologic malignancies. “This ASCO features the breadth of our oncology pipeline across multiple tumor types and different approaches such as bispecifics, ADCs and targeted therapies, and showcases the potential of our industry-leading CELMoD modality,” said Cristian Massacesi, MD, executive vice president, chief medical officer and head of Development, Bristol Myers Squibb. “Throughout the meeting, we will also highlight novel combinations that we believe could offer innovative and meaningful options to people with cancer.” Key data to be presented by Bristol Myers Squibb and its collaborators include: Delivering on the potential of targeted protein degradation with CELMoD (cereblon E3 ligase modulation) presentations in multiple myeloma and lymphoma Late-breaking full results from the Phase 3 SUCCESSOR-2 trial of mezigdomide, an investigational, oral CELMoD, in combination with carfilzomib and dexamethasone (MeziKd) versus carfilzomib and dexamethasone in relapsed or refractory multiple myeloma will be shared in an oral presentation Safety and 12-month efficacy results for golcadomide, a potential first-in-class investigational lymphoma CELMoD, in combination with pola-RCHP in patients with newly diagnosed aggressive B-cell lymphoma Efficacy and safety of iberdomide, an investigational, oral CELMoD, in combination with daratumumab, bortezomib and dexamethasone in patients with newly diagnosed multiple myeloma Exploring novel approaches across breast, gastric and lung cancers Two Phase 3 studies sponsored by SystImmune’s parent company, Sichuan Biokin Pharmaceutical Co., Ltd. (Biokin) in Mainland China:Late-breaking Phase 3 data for izalontamab brengitecan (iza-bren), a potentially first-in-class EGFRxHER3 bispecific antibody-drug conjugate (ADC), versus physician's choice chemotherapy in patients with unresectable locally advanced, recurrent, or metastatic triple-negative breast cancer Phase 3 results for iza-bren versus chemotherapy in patients with recurrent or metastatic esophageal squamous cell carcinomaOutside of China, iza-bren is jointly developed by SystImmune and Bristol Myers Squibb In partnership with BioNTech, the first global data for a PD-1 or PD-(L)1 x VEGF bispecific immunomodulator in previously untreated non-small cell lung cancer (NSCLC): Phase 2 data for pumitamig (PD-L1 x VEGF-A bispecific antibody) in combination with chemotherapy in first-line NSCLC Late-breaking Phase 3 data for izalontamab brengitecan (iza-bren), a potentially first-in-class EGFRxHER3 bispecific antibody-drug conjugate (ADC), versus physician's choice chemotherapy in patients with unresectable locally advanced, recurrent, or metastatic triple-negative breast cancer Phase 3 results for iza-bren versus chemotherapy in patients with recurrent or metastatic esophageal squamous cell carcinomaOutside of China, iza-bren is jointly developed by SystImmune and Bristol Myers Squibb Outside of China, iza-bren is jointly developed by SystImmune and Bristol Myers Squibb Expanding the evidence base for cell therapy and elevating real-world impact Real-world patient characteristics, outcomes, and resource utilization of chimeric antigen receptor (CAR) T cell therapy across Foundation for the Accreditation of Cellular Therapy (FACT) and non-FACT treatment centers in large B-cell lymphoma First results from the Center for International Blood and Marrow Transplant Research (CIBMTR) showing real-world outcomes of Breyanzi(lisocabtagene maraleucel) in patients with relapsed or refractory chronic lymphocytic leukemia and relapsed or refractory mantle cell lymphoma More details on these select studies to be presented at the 2026 Annual Meeting by the Company and its collaborators: Abstract Title Author Presentation Type / Abstract # Session Title Session Date/Time (CDT) Breast Cancer PANKU-Breast02: izalontamab brengitecan vs physician’s choice chemotherapy in patients with unresectable locally advanced, recurrent or metastatic triple-negative breast cancer (TNBC): A randomized, Phase 3 study (BL-B01D1-307)(LBA) Wu, J Oral #LBA1003 Breast Cancer - Metastatic June 2, 2026 9:45 AM – 12:45 PM Gastrointestinal Cancer PANKU-Esophagus01: izalontamab brengitecan vs chemotherapy in patients with recurrent or metastatic esophageal squamous cell carcinoma (ESCC), A multicenter, randomized, open-label, Phase 3 study (BL-B01D1-305) Lu, Z Oral #4008 Gastrointestinal Cancer—Gastroesophageal, Pancreatic, and Hepatobiliary June 1, 2026 9:45 AM – 12:45 PM Lymphoma Golcadomide, a potential, first-in-class, oral CELMoD, + pola-RCHP in patients with newly diagnosed aggressive B-cell lymphoma: Safety and 12-month efficacy results Hoffman, M Oral #7011 Hematologic Malignancies – Lymphoma and Chronic Lymphocytic Leukemia May 29, 2026 1:00 PM – 2:30 PM Real-world patient characteristics, outcomes, and resource utilization of chimeric antigen receptor (CAR) T cell therapy across Foundation for the Accreditation of Cellular Therapy (FACT) and non-FACT treatment centers in large B-cell lymphoma Raj, R Poster #7023 Hematologic Malignancies – Lymphoma and Chronic Lymphocytic Leukemia June 1, 2026 9:00 AM – 12:00 PM Real-world outcomes of lisocabtagene maraleucel in patients with relapsed or refractory chronic lymphocytic leukemia: First results from CIBMTR Tomasulo, E Poster #7024 Hematologic Malignancies – Lymphoma and Chronic Lymphocytic Leukemia June 1, 2026 9:00 AM – 12:00 PM Outcomes of lisocabtagene maraleucel in patients with relapsed or refractory mantle cell lymphoma: First real-world data from the CIBMTR Huang, J Poster #7026 Hematologic Malignancies – Lymphoma and Chronic Lymphocytic Leukemia June 1, 2026 9:00 AM – 12:00 PM Multiple Myeloma Efficacy and safety of iberdomide, daratumumab, bortezomib and dexamethasone in patients with newly diagnosed multiple myeloma Kapoor, P Oral #7514 Hematologic Malignancies – Plasma Cell Dyscrasia May 31, 2026 9:45 AM – 11:15 AM Mezigdomide, carfilzomib, and dexamethasone vs carfilzomib and dexamethasone in relapsed or refractory multiple myeloma: Result from the Phase 3 SUCCESSOR-2 trial (LBA) Richardson, P Oral #LBA7506 Hematologic Malignancies – Plasma Cell Dyscrasia May 29, 2026 2:45 PM – 5:45 PM Thoracic Cancer Phase 2 data from ROSETTA Lung-02, a global randomized Phase 2/3 trial of pumitamig (PD-L1 x VEGF-A bsAB) + chemotherapy in 1L NSCLC Peters, S Rapid Oral #8513 Lung Cancer – Non-Small Cell Metastatic May 30, 2026 1:15 PM – 2:45 PM BREYANZI INDICATIONS BREYANZI is a CD19-directed genetically modified autologous T cell immunotherapy indicated for the treatment of: adult patients with large B-cell lymphoma (LBCL), including diffuse large B-cell lymphoma (DLBCL) not otherwise specified (including DLBCL arising from indolent lymphoma), high-grade B cell lymphoma, primary mediastinal large B-cell lymphoma, and follicular lymphoma grade 3B, who have:refractory disease to first-line chemoimmunotherapy or relapse within 12 months of first-line chemoimmunotherapy; or refractory disease to first-line chemoimmunotherapy or relapse after first-line chemoimmunotherapy and are not eligible for hematopoietic stem cell transplantation (HSCT) due to comorbidities or age; or relapsed or refractory disease after two or more lines of systemic therapy. refractory disease to first-line chemoimmunotherapy or relapse within 12 months of first-line chemoimmunotherapy; or refractory disease to first-line chemoimmunotherapy or relapse after first-line chemoimmunotherapy and are not eligible for hematopoietic stem cell transplantation (HSCT) due to comorbidities or age; or relapsed or refractory disease after two or more lines of systemic therapy. Limitations of Use: BREYANZI is not indicated for the treatment of patients with primary central nervous system lymphoma. adult patients with relapsed or refractory chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL) who have received at least 2 prior lines of therapy, including a Bruton tyrosine kinase (BTK) inhibitor and a B-cell lymphoma 2 (BCL-2) inhibitor. This indication is approved under accelerated approval based on response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trial(s). adult patients with relapsed or refractory follicular lymphoma (FL) who have received 2 or more prior lines of systemic therapy. adult patients with relapsed or refractory mantle cell lymphoma (MCL) who have received at least 2 prior lines of systemic therapy, including a Bruton tyrosine kinase (BTK) inhibitor. adult patients with relapsed or refractory marginal zone lymphoma (MZL) who have received at least 2 prior lines of systemic therapy. IMPORTANT SAFETY INFORMATION WARNING: CYTOKINE RELEASE SYNDROME, NEUROLOGIC TOXICITIES, AND SECONDARY HEMATOLOGICAL MALIGNANCIES Cytokine Release Syndrome (CRS), including fatal or life-threatening reactions, occurred in patients receiving BREYANZI. Do not administer BREYANZI to patients with active infection or inflammatory disorders. Treat severe or life-threatening CRS with tocilizumab with or without corticosteroids. Neurologic toxicities, including fatal or life-threatening reactions, occurred in patients receiving BREYANZI, including concurrently with CRS, after CRS resolution, or in the absence of CRS. Monitor for neurologic events after treatment with BREYANZI. Provide supportive care and/or corticosteroids as needed. T cell malignancies have occurred following treatment of hematologic malignancies with BCMA-and CD19-directed genetically modified autologous T cell immunotherapies, including BREYANZI. Cytokine Release Syndrome Cytokine release syndrome (CRS), including fatal or life-threatening reactions, occurred following treatment with BREYANZI. In clinical trials of BREYANZI, which enrolled a total of 769 patients with non-Hodgkin lymphoma (NHL), CRS occurred in 56% of patients, including ≥ Grade 3 CRS in 3.4% of patients. The median time to onset was 5 days (range: 1 to 63 days). CRS resolved in 99% of patients with a median duration of 5 days (range: 1 to 37 days). One patient had fatal CRS and 5 patients had ongoing CRS at the time of death. The most common manifestations of CRS (≥10%) were fever, hypotension, chills, tachycardia, hypoxia, and headache. Serious events that may be associated with CRS include cardiac arrhythmias (including atrial fibrillation and ventricular tachycardia), cardiac arrest, cardiac failure, diffuse alveolar damage, renal insufficiency, capillary leak syndrome, hypotension, hypoxia, and hemophagocytic lymphohistiocytosis/macrophage activation syndrome (HLH/MAS). Ensure that 2 doses of tocilizumab are available prior to infusion of BREYANZI. Neurologic Toxicities Neurologic toxicities that were fatal or life-threatening, including immune effector cell-associated neurotoxicity syndrome (ICANS), occurred following treatment with BREYANZI. Serious events including cerebral edema and seizures occurred with BREYANZI. Fatal and serious cases of leukoencephalopathy, some attributable to fludarabine, also occurred. In clinical trials of BREYANZI, CAR T cell-associated neurologic toxicities occurred in 32% of patients, including ≥ Grade 3 cases in 10% of patients. The median time to onset of neurotoxicity was 8 days (range: 1 to 63 days). Neurologic toxicities resolved in 88% of patients with a median duration of 7.5 days (range: 1 to 119 days). Of patients developing neurotoxicity, 83% also developed CRS. The most common neurologic toxicities (≥5%) included encephalopathy, tremor, aphasia, delirium, and headache. CRS and Neurologic Toxicities Monitoring Monitor patients daily for at least 7 days following BREYANZI infusion for signs and symptoms of CRS and neurologic toxicities and assess for other causes of neurological symptoms. Continue to monitor patients for signs and symptoms of CRS and neurologic toxicities for at least 2 weeks after infusion and treat promptly. At the first sign of CRS, institute treatment with supportive care, tocilizumab, or tocilizumab and corticosteroids as indicated. Manage neurologic toxicity with supportive care and/or corticosteroid as needed. Advise patients to avoid driving for at least 2 weeks following infusion. Counsel patients to seek immediate medical attention should signs or symptoms of CRS or neurologic toxicity occur at any time. Hypersensitivity Reactions Allergic reactions may occur with the infusion of BREYANZI. Serious hypersensitivity reactions, including anaphylaxis, may be due to dimethyl sulfoxide (DMSO). Serious Infections Severe infections, including life-threatening or fatal infections, have occurred in patients after BREYANZI infusion. In clinical trials of BREYANZI, infections of any grade occurred in 33% of patients, with Grade 3 or higher infections occurring in 12% of all patients. Grade 3 or higher infections with an unspecified pathogen occurred in 7%, bacterial infections in 3.5%, viral infections in 2%, and fungal infections in 0.7% of patients. One patient who received 4 prior lines of therapy developed a fatal case of John Cunningham (JC) virus progressive multifocal leukoencephalopathy 4 months after treatment with BREYANZI. One patient who received 3 prior lines of therapy developed a fatal case of cryptococcal meningoencephalitis 35 days after treatment with BREYANZI. Febrile neutropenia developed after BREYANZI infusion in 8% of patients. Febrile neutropenia may be concurrent with CRS. In the event of febrile neutropenia, evaluate for infection and manage with broad-spectrum antibiotics, fluids, and other supportive care as medically indicated. Monitor patients for signs and symptoms of infection before and after BREYANZI administration and treat appropriately. Administer prophylactic antimicrobials according to standard institutional guidelines. Avoid administration of BREYANZI in patients with clinically significant, active systemic infections. Viral reactivation: Hepatitis B virus (HBV) reactivation, in some cases resulting in fulminant hepatitis, hepatic failure, and death, can occur in patients treated with drugs directed against B cells. In clinical trials of BREYANZI, 35 of 38 patients with a prior history of HBV were treated with concurrent antiviral suppressive therapy. Perform screening for HBV, HCV, and HIV in accordance with clinical guidelines before collection of cells for manufacturing. In patients with prior history of HBV, consider concurrent antiviral suppressive therapy to prevent HBV reactivation per standard guidelines. Prolonged Cytopenias Patients may exhibit cytopenias not resolved for several weeks following lymphodepleting chemotherapy and BREYANZI infusion. In clinical trials of BREYANZI, Grade 3 or higher cytopenias persisted at Day 29 following BREYANZI infusion in 35% of patients, and included thrombocytopenia in 25%, neutropenia in 22%, and anemia in 6% of patients. Monitor complete blood counts prior to and after BREYANZI administration. Hypogammaglobulinemia B-cell aplasia and hypogammaglobulinemia can occur in patients receiving BREYANZI. In clinical trials of BREYANZI, hypogammaglobulinemia was reported as an adverse reaction in 9% of patients. Hypogammaglobulinemia, either as an adverse reaction or laboratory IgG level below 500 mg/dL after infusion, was reported in 30% of patients. Monitor immunoglobulin levels after treatment with BREYANZI and manage using infection precautions, antibiotic prophylaxis, and immunoglobulin replacement as clinically indicated. Live vaccines: The safety of immunization with live viral vaccines during or following BREYANZI treatment has not been studied. Vaccination with live virus vaccines is not recommended for at least 6 weeks prior to the start of lymphodepleting chemotherapy, during BREYANZI treatment, and until immune recovery following treatment with BREYANZI. Secondary Malignancies Patients treated with BREYANZI may develop secondary malignancies. T cell malignancies have occurred following treatment of hematologic malignancies with BCMA- and CD19-directed genetically modified autologous T cell immunotherapies, including BREYANZI. Mature T cell malignancies, including CAR-positive tumors, may present as soon as weeks following infusion, and may include fatal outcomes. Monitor lifelong for secondary malignancies. In the event that a secondary malignancy occurs, contact Bristol-Myers Squibb at 1-888-805-4555 for reporting and to obtain instructions on collection of patient samples for testing. Immune Effector Cell-Associated Hemophagocytic Lymphohistiocytosis-Like Syndrome (IEC-HS) Immune Effector Cell-Associated Hemophagocytic Lymphohistiocytosis-Like Syndrome (IEC-HS), including fatal or life-threatening reactions, occurred following treatment with BREYANZI. Seven out of 769 (0.9%) patients with R/R NHL exposed to BREYANZI developed IEC-HS. Time to onset of IEC-HS ranged from 7 to 32 days. Of the 7 patients, 3 patients developed IEC-HS with overlapping occurrence of CRS and neurotoxicity, 2 patients developed IEC-HS with overlapping occurrence of neurotoxicity, and 1 patient developed IEC-HS with overlapping occurrence of CRS. IEC-HS was fatal in 2 of 7 patients. One patient had fatal IEC-HS and one had ongoing IEC-HS at time of death. IEC-HS is a life-threatening condition with a high mortality rate if not recognized and treated early. Treatment of IEC-HS should be administered per current practice guidelines. Adverse Reactions The most common adverse reaction(s) (incidence ≥30%) in: LBCL are fever, CRS, fatigue, musculoskeletal pain, and nausea. The most common Grade 3-4 laboratory abnormalities include lymphocyte count decrease, neutrophil count decrease, platelet count decrease, and hemoglobin decrease. CLL/SLL are CRS, encephalopathy, fatigue, musculoskeletal pain, nausea, edema, and diarrhea. The most common Grade 3-4 laboratory abnormalities include neutrophil count decrease, white blood cell decrease, hemoglobin decrease, platelet count decrease, and lymphocyte count decrease. FL is CRS. The most common Grade 3-4 laboratory abnormalities include lymphocyte count decrease, neutrophil count decrease, and white blood cell decrease. MCL are CRS, fatigue, musculoskeletal pain, and encephalopathy. The most common Grade 3-4 laboratory abnormalities include neutrophil count decrease, white blood cell decrease, and platelet count decrease. MZL is CRS. The most common Grade 3-4 laboratory abnormalities include lymphocyte count decrease, neutrophil count decrease, and white blood cell decrease. Please see full Prescribing Information, including Boxed WARNINGS and Medication Guide. About Bristol Myers Squibb: Transforming Patients’ Lives Through Science At Bristol Myers Squibb, our mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. We are pursuing bold science to define what’s possible for the future of medicine and the patients we serve. For more information, visit us at BMS.com and follow us on LinkedIn, X, YouTube, Facebook and Instagram. Cautionary Statement Regarding Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others, that future study results may not be consistent with the results to date, that pumitamig, iza-bren, iberdomide, golcadomide, mezigdomide, nivolumab, ipilimumab, pomalidomide, arlocabtagene autoleucel (arlo-cel), relatlimab, adagrasib, lisocabtagene maraleucel, BMS-986365, BMS-986504, or BMS-986489 alone, in combination with standard therapies, or in combinations as described herein, may not achieve its primary study endpoints or receive regulatory approval for the indications described in this release in the currently anticipated timeline or at all, any marketing approvals, if granted, may have significant limitations on their use, and, if approved, whether such products, treatments, or combination treatments for such indications will be commercially successful. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb’s business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2025, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise. corporatefinancial-news Bristol Myers Squibb Media Inquiries: media@bms.com Investors: investor.relations@bms.com

Bristol-Myers Squibb held its BMY Q1 2026 earnings conference call on April 30, 2026, with management highlighting a late-stage pipeline approaching a cluster of pivotal readouts across cardiovascular disease, fibrotic lung disease, neuroscience, and hematology. The key near-term catalysts include milvexian in AFib and secondary stroke prevention, admilparant in IPF, Cobenfy in Alzheimer’s disease psychosis, and the company’s CELMoD protein degradation platform in relapsed or refractory multiple myeloma. Management framed these readouts as central to defining BMS’s growth profile into the next decade. Key Strategic Signals CELMoD Platform: The iberdomide new drug application was accepted by the US FDA with Breakthrough Therapy Designation and Priority Review, carrying a PDUFA date of August 17, 2026. Separately, mezigdomide hit a positive interim progression-free survival endpoint in the SUCCESSOR-2 Phase III trial ahead of schedule, with full data to be presented at ASCO. Chief Medical Officer Cristian Massacesi said the company intends to position both iberdomide and mezigdomide as replacements for Revlimid (lenalidomide) and Pomalyst (pomalidomide) in second-line relapsed or refractory multiple myeloma (RRMM), with longer-term ambitions to pair them with T-cell redirecting therapies and cell therapy. Admilparant: The company’s LPA1 inhibitor admilparant is advancing through Phase III trials in idiopathic pulmonary fibrosis (IPF), with a readout guided for the second half of 2026, and progressive pulmonary fibrosis (PPF), with data expected in early 2027. Massacesi cited Phase II results showing greater than 60% improvement versus placebo in lung function decline at the 60 milligram twice-daily dose, a clear dose-response relationship across tested doses, and ongoing Data Monitoring Committee reviews recommending continuation without safety flags. The company is running both Phase III studies with two doses — 60 milligram and 120 milligram — providing two shots at demonstrating efficacy. Management described admilparant as first-in-class for both indications with a tolerability profile meaningfully differentiated from current antifibrotics, where approximately 50% to 60% of patients discontinue therapy within 12 months. Non-Obstructive HCM: Massacesi announced that BMS is planning a new, more focused Phase III study in non-obstructive hypertrophic cardiomyopathy (HCM) for Camzyos (mavacamten), informed by learnings from the ODYSSEY trial. He said the company now has a clearer understanding of which patient subpopulations and disease subtypes are most likely to benefit from myosin inhibition, and that trial details would be registered on ClinicalTrials.gov. This represents a strategic attempt to recover a previously failed indication through refined patient selection. Analyst Pressure Points Milvexian Trial Design and Subgroup Risk: Analysts from Wolfe Research and UBS pressed management on whether the milvexian AFib trial — the Librexia program — could produce a partial or ambiguous result, and whether historically lower stroke event rates in contemporary AFib trials could delay the readout into 2027. Massacesi acknowledged the study is event-driven and that the company remains blinded, but said the predefined event count for both efficacy and safety is accruing as planned and that a year-end readout remains the base case. He declined to specify a bleeding reduction threshold required for commercial success, and analysts noted the non-inferiority margins of 0.84 to 1.3 on efficacy leave meaningful room for interpretation if the efficacy result lands close to the boundary. Cobenfy ADEPT Program Heterogeneity: Analysts at Jefferies questioned why BMS added mandatory biomarker confirmation of Alzheimer’s diagnosis to the ADEPT-4 trial design — requiring plasma or imaging confirmation — when ADEPT-2 was already enrolling without that requirement. Massacesi said the decision was made to reduce patient population heterogeneity and increase confidence that enrolled patients have confirmed Alzheimer’s disease, while acknowledging that the biomarker screening requirement increases operational complexity and screening failures. He framed ADEPT-2 and ADEPT-4 as parallel shots on goal, with the company requiring at least two positive studies for a regulatory filing. BMS has since added ADEPT-5 to the program, giving it four trials in Alzheimer’s disease psychosis (ADP). Forward-Looking Catalysts H2 2026 — Milvexian Phase III Readouts (AFib and SSP): Both the Librexia AFib trial, enrolling 20,500 patients in a head-to-head comparison against apixaban, and the secondary stroke prevention (SSP) trial are on track for year-end readouts. The AFib study is powered to demonstrate non-inferiority on stroke prevention and superiority on bleeding, with the bleeding endpoint split between measured bleeds and clinically relevant non-major bleeds. Chief Commercialization Officer Adam Lenkowsky said payers are not anchored to a specific percentage bleeding reduction threshold but are seeking a clinically meaningful and statistically credible reduction in major bleeds that translates into fewer hospitalizations. BMS would be the only company with a Factor XIa inhibitor approved in both AFib and SSP if successful. H2 2026 — Admilparant IPF Phase III Readout: The IPF data readout is the catalyst Massacesi described as among the most critical of the year. Both Phase III studies stratify patients by prior antifibrotic use — pirfenidone or nintedanib — allowing for analysis as an add-on or monotherapy, and the DMC has continued both studies without modification. Management said the Phase III population was designed to closely mirror the Phase II population to maximize translation of the earlier efficacy signal. Pipeline Context: Pumitamig and the CELMoD Depth During the Bristol-Myers Squibb Q1 earnings transcript, analysts also asked about pumitamig, BMS’s PD-1 x VEGF bispecific antibody developed in partnership with BioNTech. Massacesi said the company is presenting Phase II non-small cell lung cancer (NSCLC) data as an oral presentation at ASCO — the first global dataset following earlier China-specific data — and that seven pivotal Phase III studies across indications are all actively recruiting. He framed pumitamig’s strategy as “replace and expand,” targeting replacement of PD-1 and PD-L1 inhibitors while extending into novel combinations. BMS has initiated combination studies pairing pumitamig with Iza-bren (izalontamab brengitecan), its EGFR-HER3 antibody-drug conjugate (ADC), and with navlimetostat, a PRMT5 inhibitor, reflecting a deliberate effort to build pumitamig as a combinability backbone across tumor types. On the CELMoD platform, CEO Christopher Boerner highlighted golcadomide as an underappreciated asset, citing high-quality data accruing ahead of ASCO presentations. He also noted that earlier-stage degraders — BCL6-LDD and AR-LDD — are advancing behind the lead programs, indicating a platform depth that extends well beyond the two assets closest to approval. During the Bristol-Myers Squibb earnings call, Massacesi also confirmed that Arlo-cel, a GPRC5D-targeted CAR-T in RRMM, is expected to produce a pivotal readout later in 2026. In autoimmune disease cell therapy, BMS outlined a three-modality immune reset strategy: zola-cel, an autologous CD19 CAR-T in pivotal studies for lupus and scleroderma; an allogeneic CAR-T now in the clinic; and an mRNA-based in vivo CAR-T platform acquired through Orbital, which could improve scalability by enabling patients to generate CAR-T cells in vivo. Across the BMY Q1 2026 earnings discussion, Christopher Boerner framed the company’s R\&D productivity agenda around two quantified targets: a 50% reduction in lead molecule identification time and a 30% reduction in late-stage development cycle times versus a few years ago, supported by AI partnerships with Faro and Evinova. He said business development remains a capital allocation priority and that BMS is size-agnostic in evaluating opportunities, with a preference for assets in therapeutic areas where the company can add clinical and commercial value. 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