Bristol-Myers Squibb(US:BMY) ZACKS·2026-01-30 14:50Core Insights - Bristol Myers Squibb (BMY) has partnered with Janux Therapeutics to develop a novel tumor-activated therapeutic targeting a validated solid tumor antigen across multiple cancer types [2] - Janux is set to receive up to $50 million in upfront and near-term milestone payments, with potential additional milestones totaling approximately $800 million, along with tiered royalties on global product sales [3] - BMY will lead clinical development and global commercialization after the IND submission, while Janux will remain involved through the first phase I study [4] Collaboration and Development - BMY's collaboration with Microsoft aims to enhance early detection of lung cancer using AI-powered radiology solutions [4] - In 2025, BMY partnered with BioNTech for the co-development of the investigational bispecific antibody pumitamig (BNT327) for various solid tumor types [5] - Interim results from a phase II study of pumitamig in combination with chemotherapy for triple-negative breast cancer showed encouraging antitumor activity and a manageable safety profile [6][7] Competitive Landscape - BMY competes in the oncology space with major players like Merck and Pfizer, with Merck's Keytruda being a dominant drug in immuno-oncology [9] - Merck is developing bispecific antibodies targeting PD-1 and VEGF, while Pfizer has a diverse oncology portfolio including ADCs and bispecifics [10][13] Financial Performance and Valuation - BMY shares have increased by 25.4% over the past six months, outperforming the industry growth of 22.8% [15] - The company is trading at a price/earnings ratio of 9.02x forward earnings, which is lower than the large-cap pharma industry's average of 18.18x [17] - The Zacks Consensus Estimate for BMY's 2025 EPS has decreased to $6.33 from $6.51 over the past 60 days, while the estimate for 2026 has increased [19]