Fed’s Evans defines ‘neutral’ rates in a range near 2.75% to 3%

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Bristol-Myers says trial of small cell lung cancer treatment failed to meet main goal

Bristol-Myers Squibb Co. said Friday a late-stage trial of a treatment for small cell lung cancer failed to meet its main goal. The drug company said the Phase 3 study called CheckMate-331 evaluating its opdivo in patients with the disease who relapsed following platinum-based chemotherapy failed to meet its primary endpoint of overall survival. “Small cell lung cancer is a highly aggressive disease in which significant unmet need remains,” said Sabine Maier, development lead, thoracic cancers, at Bristol-Myers Squibb. “We are focused on researching innovative oncology therapies to improve outcomes for patients with lung cancer.” Shares were slightly higher premarket, but have fallen 6.1% in 2018, while the S&P 500 has gained 2.1%.

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