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Bristol Myers Squibb Presents New Interim Long-Term Efficacy Data from the EMERGENT-4 Trial Evaluating KarXT in Schizophrenia at the 2024 Annual Congress of the Schizophrenia International Research So

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Long-term treatment with KarXT was associated with continued improvements in symptoms of schizophrenia across all efficacy measures at 52 weeks

More than 75% of participants achieved >30% improvement in symptoms from baseline, as measured by the Positive and Negative Syndrome Scale (PANSS) total score, at one year

Participants previously on placebo in acute trials experienced significant reduction of symptoms beginning at week two and maintained throughout treatment

PRINCETON, N.J.–(BUSINESS WIRE)–Bristol Myers Squibb (NYSE: BMY) today announced new interim results from the Phase 3 EMERGENT-4 open-label extension trial evaluating the long-term efficacy, safety and tolerability of KarXT (xanomeline-trospium) in adults with schizophrenia. Long-term efficacy data from the trial were presented in a poster titled, Maintenance of Efficacy of KarXT (Xanomeline and Trospium) in Schizophrenia (Poster F264) at the Annual Congress of the Schizophrenia International Research Society (SIRS) being held April 3-7, 2024, in Florence, Italy.

We are pleased to see a continued and consistent meaningful reduction in symptoms of schizophrenia across 52-weeks in an outpatient setting, beyond what was seen in the short-term, in-patient five-week trials (EMERGENT-2 and EMERGENT-3), said Roland Chen, MD, senior vice president and head, Immunology, Cardiovascular and Neuroscience development, Bristol Myers (NYSE:) Squibb. We look forward to continued conversations with the FDA and to sharing additional data from the EMERGENT program later this year.

EMERGENT-4 is a Phase 3, 52-week, outpatient, open-label extension study evaluating the long-term safety, tolerability, and efficacy of KarXT in adults with schizophrenia who previously completed the treatment period of one of the Phase 3, five-week, double-blind, placebo-controlled, efficacy and safety studies, EMERGENT-2 or EMERGENT-3. At the time of the data cutoff of April 17, 2023, 110 patients were part of the interim efficacy analysis, with 29 patients having completed 52 weeks of treatment.

In the interim analysis, KarXT was associated with significant improvement in symptoms of schizophrenia across all efficacy measures at 52 weeks. At the end of the open-label extension, more than 75% of participants achieved >30% improvement in symptoms, with an average reduction of 33.3-points from baseline (98.4), as measured by the Positive and Negative Syndrome Scale (PANSS) total score. In addition, participants had a mean 1.7-point change in Clinical Global Impression-Severity (CGI-S) score from baseline (5.2), representing an average shift from ˜markedly ill’ at baseline to ˜moderately’ or ˜mildly’ ill at one year.

Improvements in symptoms of schizophrenia continued throughout the 52-week trial regardless of whether participants were previously treated with KarXT or placebo during the acute trials. Prior to enrolling in the open-label extension, participants who previously received placebo in EMERGENT-2 and EMERGENT-3 had a significantly higher mean PANSS total score compared to those who received KarXT (placebo 86.5 vs. KarXT 76.1). When dosed with KarXT, the patients previously on placebo had significant improvements in symptoms within two weeks of treatment with KarXT. After four weeks, PANSS total scores were comparable between those who received KarXT or placebo in the acute trials.

These interim data from EMERGENT-4 continue to validate the potential of KarXT in the long-term management of schizophrenia, with continued benefit across 52 weeks of treatment, said Elan Cohen, Ph.D., principal investigator, CenExel Hassman Research Institute and investigator in the EMERGENT program. The consistency of efficacy results across all EMERGENT clinical trial programs is encouraging and suggest KarXT could provide a differentiated treatment approach for people living with schizophrenia.

In additional data presented at the congress, KarXT demonstrated a favorable impact on weight and long-term metabolic profile where most patients experienced stability or improvements on metabolic parameters over 52 weeks of treatment. In long-term trials, KarXT was generally well tolerated, with a side effect profile consistent with prior trials of KarXT in schizophrenia. KarXT was not associated with significant changes related to prolactin or clinically meaningful changes in movement disorder scale scores over 52 weeks (Oral Session: New Pharmacological Treatments and Assessments and Poster F74).

About KarXT
KarXT (xanomeline-trospium) is an investigational muscarinic antipsychotic in development for the treatment of schizophrenia and psychosis related to Alzheimer’s disease. Through its novel mechanism of action, KarXT acts as a dual M1/M4 muscarinic acetylcholine receptor agonist in the central nervous system, which is thought to improve positive, negative, and cognitive symptoms of schizophrenia. Unlike existing treatments, KarXT does not directly block dopamine receptors, representing a potential new approach to treating schizophrenia.

About Schizophrenia
Schizophrenia is a persistent and often disabling mental illness impacting how a person thinks, feels, and behaves, and affects nearly 24 million people worldwide, including 2.8 million people in the U.S. It is characterized by three symptom domains: positive symptoms (hallucinations and delusions), negative symptoms (difficulty enjoying life and withdrawal from others), and cognitive impairment (deficits in memory, concentration, and decision-making). In part due to limitations with current treatments, people living with schizophrenia often struggle to maintain employment, live independently, and manage relationships. While current treatments can be effective in managing select symptoms, approximately 30% of people do not respond to therapy, with an additional 50% experiencing only a partial improvement in symptoms or unacceptable side effects.

Bristol Myers Squibb: Delivering Breakthrough Science for Meaningful Interventions in Neuroscience
Neurological conditions represent some of the greatest challenges of our time because of their impact on society, including patients, caregivers, families and healthcare systems. At Bristol Myers Squibb, we are committed to advancing our robust pipeline of potential medicines for neurological disorders with the goal of modifying disease and improving quality of life. Leveraging genetics, biomarkers and predictive sciences, we target key pathways involved in the initiation and progression of neurological diseases to develop therapies with the potential to optimize patient outcomes.

About Bristol Myers Squibb
Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook (NASDAQ:) and Instagram.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the research, development and commercialization of pharmaceutical products. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. These risks, assumptions, uncertainties and other factors include, among others, that future study results may not be consistent with the results to date, that KarXT (xanomeline-trospium) may not achieve its primary study endpoints or receive regulatory approval for the indication described in this release in the currently anticipated timeline or at all, any marketing approvals, if granted, may have significant limitations on their use, and, if approved, whether KarXT for such indication described in this release will be commercially successful. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb’s business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb’s Annual Report on Form 10-K for the year ended December 31, 2023, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, Bristol Myers Squibb undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

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Billionaire hedge fund manager Loeb shifts portfolio, eyes possible Republican U.S. election wins

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By Svea Herbst-Bayliss

NEW YORK (Reuters) – Billionaire investor Daniel Loeb adjusted his portfolio to capture a potential boom in corporate activity after the Nov. 5 U.S. election where he expects the Republican Party will chalk up wins.

Loeb believes the Republican presidential candidate, Donald Trump, is more likely to win the White House and that his party’s policies could help boost financial markets.

“The likelihood of a Republican victory in the White House has increased, which would have a positive impact on certain sectors and the market overall,” Loeb wrote to investors in his hedge fund Third Point on Thursday. Reuters obtained a copy of the letter.

Third Point has made stock and option purchases and increased positions that “could benefit from such a scenario” while also shifting the “portfolio away from companies that will not,” the letter said. He did not elaborate on what trades the firm has been making.

A Reuters/Ipsos poll this week found that Democratic Vice President Kamala Harris held a marginal lead of three percentage points over Trump as the two stayed locked in a tight race.

Even if Trump loses, Loeb expects the Republican Party will establish a majority in the U.S. Senate which he expects can limit the “economic downside of a “Blue Sweep” by the Democratic party.

Many large investors have expressed concern about the Democrats’ economic and fiscal proposals and Loeb wrote that the party’s plans could result in “crushing taxes,” and “stifling regulations” that could hurt growth.

Wall Street has long held out for a rebound in mergers and acquisitions activity and Loeb wrote that fewer regulations and the elimination of the current administration’s “activist antitrust stance” will “unleash productivity and a wave of corporate activity.”

Since January, Loeb’s flagship fund has returned roughly 14% with the broader stock market index gaining about 23.6%.

© Reuters. FILE PHOTO: Hedge fund manager Daniel Loeb speaks during a Reuters Newsmaker event in Manhattan, New York, U.S., September 21, 2016. REUTERS/Andrew Kelly/File Photo

Turning to the broader economy, Loeb said that interest rates still need to come down, at a time there is no evidence of a looming recession and as inflation is slowing.

But he also thinks markets should remain underpinned by healthy consumer spending and active levels of individual investing.

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NYMTM stock hits 52-week high at $24.55 amid market rally

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In a robust display of market confidence, New York Mortgage (NASDAQ:) Trust Inc Preferred (NYMTM) stock has soared to a 52-week high, reaching a price level of $24.55. This milestone underscores a significant period of growth for the company, which has witnessed an impressive 1-year change with an increase of 13.71%. Investors have shown increased interest in NYMTM, rallying behind the stock as it climbs to new heights, reflecting a strong performance in the face of market dynamics. The 52-week high serves as a testament to the company’s resilience and the positive sentiment surrounding its financial prospects.

InvestingPro Insights

New York Mortgage Trust Inc Preferred (NYMTM) has reached a significant milestone with its stock price hitting a 52-week high. This achievement is particularly noteworthy given the company’s current financial landscape. According to InvestingPro data, NYMTM boasts a substantial dividend yield of 8.07%, which aligns with one of the InvestingPro Tips highlighting that the company “pays a significant dividend to shareholders.” This attractive yield may be a key factor driving investor interest and contributing to the stock’s recent performance.

Despite the stock’s strong showing, it’s important to note that NYMTM faces some challenges. The company’s revenue for the last twelve months stands at $151.99 million, with a concerning operating income margin of -32.06%. This negative margin correlates with another InvestingPro Tip indicating that “analysts do not anticipate the company will be profitable this year.”

For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips that could provide valuable insights into NYMTM’s financial health and future prospects. These additional tips could be particularly useful for understanding the stock’s potential trajectory beyond its current 52-week high.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Isabella Bank Corp director Jill Bourland acquires shares worth $199

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In a recent transaction, Jill Bourland, a director at Isabella Bank Corp (OTC:ISBA), acquired additional shares of the company’s common stock. The transaction, dated October 16, 2024, involved the purchase of 9.5238 shares at a price of $21 per share, totaling approximately $199.

Following this acquisition, Bourland’s total direct ownership in Isabella Bank increased to 4,872.5363 shares. This figure includes shares acquired through the company’s quarterly dividend reinvestment program, as noted in the filing.

Isabella Bank Corp, headquartered in Mount Pleasant, Michigan, operates as a state commercial bank. The bank continues to focus on providing financial services to its local community and beyond.

In other recent news, Isabella Bank Corp revealed a potential loss of around $1.6 million due to negative balances in deposit accounts linked to a single customer. The total exposure to this customer, including loans and lines of credit, amounts to $4.0 million. Piper Sandler maintained a Neutral rating on the bank’s shares following this disclosure. The bank also declared a third-quarter cash dividend of $0.28 per common share. In addition, Piper Sandler raised its price target for Isabella Bank from $20.00 to $22.00 and increased its earnings per share estimates for 2024 and 2025 to $1.80 and $2.10, respectively. These recent developments underscore the bank’s commitment to enhancing shareholder value and its resilience in navigating challenging situations.

InvestingPro Insights

As Jill Bourland increases her stake in Isabella Bank Corp (OTC:ISBA), investors may find additional context in the company’s financial metrics and market performance. According to InvestingPro data, Isabella Bank currently boasts a market capitalization of $158.11 million and trades at a price-to-earnings ratio of 9.81, suggesting a potentially attractive valuation relative to earnings.

The bank’s dividend policy stands out as a key strength. An InvestingPro Tip highlights that Isabella Bank has maintained dividend payments for 17 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by the current dividend yield of 5.27%, which may be particularly appealing to income-focused investors in the current market environment.

Despite a challenging economic backdrop, Isabella Bank remains profitable, with an operating income margin of 26.1% for the last twelve months as of Q2 2024. However, another InvestingPro Tip indicates that net income is expected to drop this year, which investors should monitor closely.

It’s worth noting that Isabella Bank’s stock is trading near its 52-week high, with the current price at 95.51% of that peak. This performance aligns with the company’s recent positive price returns, including a 20.91% total return over the past six months.

For investors seeking a deeper understanding of Isabella Bank’s financial health and market position, InvestingPro offers additional insights with over 10 more tips available for this stock.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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