Bristol Myers Squibb reported on Monday that its investigational drug admilparant, given at a lower dose, held back the advance of a serious disease that scars the lungs. The company said that, if approved, it could become the first treatment of its kind.
Lower 60 mg dose beats placebo in trial
The late-stage study included 1,255 people diagnosed with idiopathic pulmonary fibrosis and tested two oral doses. Admilparant works by blocking the LPA1 receptor, a protein involved in lung scarring.
The New Jersey-based company said the 60 mg twice-daily dose showed a significant advantage over placebo in protecting lung function across 52 weeks. The higher 120 mg dose, however, missed the main goal of the study.
Bristol Myers also said the drug was well tolerated at both strengths, with discontinuation rates similar to placebo.
Analysts cautious on safety, bullish on sales
Analysts said they had lowered expectations because of safety concerns and wanted complete data before judging the commercial opportunity. William Blair’s Matt Phipps, though, said the 60 mg dose could be a blockbuster, with sales of about $1.3 billion in 2032.
Current IPF treatments include Boehringer Ingelheim’s Ofev and Jascayd, and Roche’s Esbriet. The disease gradually thickens and stiffens lung tissue through irreversible scarring, making breathing harder.
Other Bristol Myers trials and upcoming readouts
RBC’s Trung Huynh said the company is well positioned for the remainder of the year, though investors will turn their attention to milvexian in atrial fibrillation and Cobenfy for Alzheimer’s-related psychosis.
On Monday the company also reported positive results for RYZ101, a radiopharmaceutical cancer drug. A separate late-stage study in progressive pulmonary fibrosis is expected in early 2027.
