ISI Provides Color on Bristol Myers Squibb

ISI provided color on Bristol Myers Squibb BMY. In a research report published today, ISI commented on the likelihood FDA will not approve the company's new drug. In the report, ISI states, “We are lowering our probability of success for dapa from 55% to 20% to reflect the 9 to 6 negative vote at today's FDA AdCom (FDA felt that safety issues such as liver toxicity & cancer imbalances needed further study/analysis). We would note there is a chance that FDA still approves the drug (after a likely delay of 6-12 months) with stringent warnings and/or a REMS program.“ On Tuesday, BMY added 0.52% to its value to finish the day at $28.81. Its shares lost some of yesterday's gains in today's pre-market trading, sliding 0.07% to $28.79.