Bristol-Myers lung cancer drug did not meet primary endpoint in late-stage trial

Bristol-Myers Squibb Co. shares plummeted as much as 19.0% in pre-market trade Friday after the company said its non-small cell lung cancer drug did not meet its primary endpoint in a phase 3 clinical trial. The drug, Opdivo, is already approved to treat some types of cancer and was being investigated for previously untreated advanced non-small cell lung cancer. Shares of the company rose 5.9% over the last three months, compared with a 5.5% rise in the S&P 500 .

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