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March 17, 2020 · Phase 3 readout

BMY Phase 3 readout: a positive outcome, +5.8%

On March 17, 2020, Bristol-Myers Squibb Company reached its Phase 3 readout. The result was a positive outcome, and the stock moved +5.8% in the window around the event. It had already run -17.2% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.

The move

$51.11
1d before
$54.09
Event day
$50.24
1d after
$48.40
5d after

Pre-catalyst setup

-17.2%
30-day run-up
4533%
30-day volatility