Bristol-Myers Squibb Advances Liver Cancer Combo as Key Trial Reaches Completion

Bristol-Myers Squibb Company (BMY) announced an update on their ongoing clinical study.

Study Overview

This Bristol-Myers Squibb (BMY) trial, titled “A Phase 1/2, Safety Confirmation, Placebo-controlled, Randomized Study of Nivolumab in Combination With Relatlimab and Bevacizumab in Treatment-naive Advanced/Metastatic Hepatocellular Carcinoma,” tests a new drug mix in patients with advanced liver cancer who have not received prior systemic therapy. The goal is to confirm safety and look for early signs that adding relatlimab to an existing immunotherapy and anti-angiogenic combo can improve outcomes, a key question in a fast-growing liver cancer market.

Intervention/Treatment

The study compares two treatment groups. One group receives a “triplet” of three drugs: nivolumab (an immune checkpoint blocker), relatlimab (another immune-targeting antibody), and bevacizumab (a drug that cuts off blood supply to tumors). The other group gets nivolumab plus bevacizumab with a placebo instead of relatlimab. The idea is to see if the triplet can boost the body’s immune response against liver tumors without adding too much safety risk.

Study Design

This is an interventional Phase 1/2 trial, meaning patients are assigned to active treatments rather than just being observed. Patients are randomly placed into one of the two arms, so each person has a fair chance of getting the triplet or the control regimen. The study uses a parallel-group design, where both arms are treated and followed at the same time. Masking is triple-blind: patients, their doctors, and the trial investigators do not know who is getting relatlimab versus placebo, which helps keep the results objective. The main goal is treatment-focused, aiming to understand safety and early effectiveness in advanced hepatocellular carcinoma.

Study Timeline

The study was first submitted to the registry on April 13, 2022, signaling when BMY formally launched and disclosed the program to the market. The trial has now reached “Completed” status, meaning all planned treatment and follow-up needed for key endpoints are finished. Primary and estimated final completion dates are not listed in this extract, but the latest update to the record on January 9, 2026, confirms that the trial dataset and related information were recently refreshed, an important signal that data are maturing and next steps—such as data release or phase progression decisions—may be near.

Market Implications

This update matters for investors because it marks the completion of a strategic combination in a major oncology segment. Positive safety and early efficacy from the nivolumab–relatlimab–bevacizumab mix could extend the life of BMY’s immunotherapy franchise and support new growth in liver cancer, where competition from players like Roche (Tecentriq/Avastin), Merck (Keytruda), and others is rising. Even without released results, a completed and recently updated Phase 1/2 study lowers development risk versus earlier-stage assets and may be read by the market as a quiet but constructive step toward later-stage studies or partnering decisions. Conversely, if future disclosures show limited benefit or safety concerns, investors could reassess BMY’s ability to defend or expand share in hepatocellular carcinoma. For now, the fresh update suggests the program remains active in BMY’s pipeline, and investors should watch for upcoming data presentations or earnings call commentary as potential stock catalysts.

The trial is completed but recently updated, and further details are available on the ClinicalTrials portal.

To learn more about BMY’s potential, visit the Bristol-Myers Squibb Company drug pipeline page.