After Bristol Myers (BMY) announced that it is delaying the readout of the ADEPT-2 study of Cobenfy in Alzheimer’s Psychosis as it adds more patients to the trial due to irregularities at some clinical trial sites, JPMorgan said the firm is “not completely surprised by this update” and sees it as an incremental positive. Expectations were low on ADEPT-2, the additional patient-adds enhances the chances of a successful study and this does not impact the timing of the FDA filing based on the remaining ADEPT study readouts, according to the analyst, who maintain an Overweight rating on the shares.
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