Bristol Myers’ lung drug succeeds at lower dose in late-stage trial

Bristol Myers Squibb (BMY) said a lower dose of its experimental drug slowed the progression of a serious lung-scarring disease, putting it on track to become a first-of-its-kind treatment if approved.

The late-stage trial enrolled 1,255 patients with idiopathic pulmonary fibrosis and tested two oral doses of admilparant, which blocks the LPA1 protein receptor, a pathway involved in lung scarring. The New Jersey-based drugmaker said a 60mg twice-daily dose significantly outperformed placebo in preserving lung function after 52 weeks. The higher 120mg dose missed the study’s main goal.

Analysts had tempered expectations for the results, citing safety concerns, and called for complete data to assess the drug’s commercial opportunity. Matt Phipps, an analyst at William Blair, said the success of the 60mg dose could translate into a blockbuster, with sales of about $1.3bn in 2032.

Admilparant would be the first LPA1 inhibitor to treat the disease if it wins regulatory approval. Current therapies include Boehringer Ingelheim’s Ofev and Jascayd, as well as Roche’s (RHHBY) anti-fibrotic drug Esbriet. Idiopathic pulmonary fibrosis is a progressive condition that causes irreversible scarring, thickening and stiffening lung tissue and gradually impairing breathing.

Bristol Myers said admilparant was well tolerated at both doses, with discontinuation rates low and comparable with placebo.

Trung Huynh, an analyst at RBC, said the company is well positioned for the rest of the year, though investor focus will shift to trial results for its atrial fibrillation drug milvexian and Cobenfy, its therapy for Alzheimer’s-related psychosis.

The company also reported positive trial results for RYZ101, its radiopharmaceutical cancer drug. Results from a separate late-stage study of admilparant in progressive pulmonary fibrosis are expected in early 2027.