BMS Streamlines Pipeline, Removes Two Clinical Programs Amid Leadership Changes

Bristol Myers Squibb (BMS) has announced the removal of two clinical programs from its pipeline, signaling a strategic shift in its research and development focus. The move comes as part of the company's ongoing cost-saving initiative and coincides with recent leadership transitions.

Pipeline Adjustments and Program Discontinuations

BMS has decided to discontinue two clinical programs, one acquired from its 2023 Mirati buyout and another from a partnership with Exscientia (now known as Recursion). The Mirati program, an SOS1 inhibitor previously coded as MRTX0902, was being studied in a phase 1/2 solid tumor trial with a primary readout initially scheduled for mid-2026. This candidate was evaluated both as a monotherapy and in combination with Mirati's adagrasib (Krazati), which has received accelerated approval for certain advanced non-small cell lung cancer patients and regulatory clearance when paired with Erbitux in colorectal cancer.

The second discontinued asset is EXS4318, a PKC-theta inhibitor originating from Exscientia. This immunology and inflammation asset, which entered human testing in 2023, was part of a $1.2 billion biobucks discovery deal between BMS and Exscientia in 2021.

Strategic Implications and Ongoing Development

Despite these removals, BMS continues to leverage its Mirati acquisition, progressing with the development of MRTX1719, another program currently in phase 1 testing for solid tumors with MTAP deletion. The company's pipeline adjustments reflect a broader strategy to optimize its research portfolio and allocate resources to the most promising candidates.

Leadership Transition and Future Focus

The pipeline changes coincide with a leadership transition at BMS, with former Chief Medical Officer Samit Hirawat, M.D., being succeeded by AstraZeneca's Cristian Massacesi, M.D. In a recent earnings call, Dr. Massacesi highlighted the company's neuroscience efforts, particularly those related to the approved schizophrenia treatment Cobenfy. He noted that 14 studies are either ongoing or in the process of being launched, including 10 pivotal studies related to the drug.

These strategic moves are part of BMS's broader cost-saving initiative, which aims to save $1.5 billion by the end of the year. As the pharmaceutical landscape continues to evolve, BMS's pipeline refinement and leadership changes underscore the company's commitment to maintaining a competitive edge in drug development and market positioning.