Updated version 3 - Bristol-Myers Squibb's lung disease drug succeeds at lower dosage in late-stage clinical trial

The entire article has been rewritten, with analyst comments added in paragraphs 4-5 and paragraph 8.

Padmanabhan Ananthan

Reuters, Oct 12 - Bristol-Myers Squibb (BMY.N) said on Monday that a lower dose of its experimental drug could slow the progression of a serious lung fibrosis disease, and if approved, the therapy could become the first of its kind.

The late-stage clinical trial enrolled 1,255 patients with idiopathic pulmonary fibrosis to test two dosages of the oral formulation of admilparant. This drug works by blocking the LPA1 protein receptor, targeting signaling pathways associated with lung fibrosis.

Bristol-Myers Squibb, headquartered in New Jersey, said that after 52 weeks, twice-daily 60mg doses of admilparant were significantly better than placebo in maintaining lung function. However, the higher 120mg dose group did not meet the primary study goal.

Analysts noted that, due to safety concerns, they had previously lowered expectations for the trial results and called for full data disclosure to assess the drug's commercial potential.

But William Blair analyst Matt Phipps said the 60mg dose’s success could provide a blockbuster opportunity, expecting sales to reach about $1.3 billion by 2032.

If approved by regulators, admilparant would be the first LPA1 inhibitor for treating idiopathic pulmonary fibrosis (IPF). Current IPF medicines include Ofev and Jascayd from Boehringer Ingelheim, as well as the anti-fibrotic drug Esbriet from ROPC.S Roche.

Idiopathic pulmonary fibrosis is a progressive lung disease causing irreversible scarring, making lung tissue thicker and stiffer, gradually harming breathing and lung function.

RBC analyst Trung Huynh said that while investor attention will shift to the clinical trial results of Bristol-Myers Squibb’s milvexian for treating atrial fibrillation as well as Cobenfy for treating Alzheimer’s-related psychosis, the company’s outlook remains positive for the remainder of the year.

The company also reported on Monday that clinical trial results for its radiopharmaceutical anti-cancer drug RYZ101 (link) were encouraging.

The company said that Admilparant was well tolerated at both doses, with a low discontinuation rate comparable to placebo.

Another late-stage clinical trial targeting progressive pulmonary fibrosis is expected to report results in early 2027.

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