Benzinga | Aug 19, 2021 03:34PM EDT

Europe Approves Bristol Myers' BCMA-Targeted Multiple Myeloma Immunotherapy

* The European Commission (EC) has granted conditional marketing approval for Bristol Myers Squibb & Co's (NYSE:BMY) Abecma (idecabtagene vicleucel, ide-cel) for relapsed and refractory multiple myeloma.

* Abecma is a first-in-class B-cell maturation antigen (BCMA)-directed chimeric antigen receptor (CAR) T cell immunotherapy.

* The approval comes for patients who have received at least three prior therapies and have demonstrated disease progression on the last treatment.

* Related content: Benzinga's Full FDA Calendar.

* Price Action: BMY shares are up 1.19% at $68.74 during the market session on the last check Thursday.