According to the Economic Information APP, 2seventy bio (TSVT.US) and Bristol-Myers Squibb (BMY.US) have decided to stop the phase III clinical trial KarMMa-9 of the T-cell immunotherapy Abecma, which is targeted at newly diagnosed multiple myeloma (NDMM) patients. This decision reflects significant improvement in the outlook for NDMM treatment, while also expecting to save over $80 million in recent expenses for the two companies. Additionally, 2seventy bio anticipates a growth of about 30% in the revenue of its CAR-T cell therapy Abecma in the third quarter in the USA, and also expects a double-digit increase in the number of new patients. Legend Biotech (LEGN.US) and Johnson & Johnson (JNJ.US) Carvykti are direct competitors in the multiple myeloma treatment market.

2seventy bio and its partner Bristol-Myers Squibb have announced the halt of the phase III clinical trial of T-cell immunotherapy Abecma for newly diagnosed multiple myeloma patients. This research named KarMMa-9 aimed to evaluate the effects of Abecma in combination with lenalidomide and lenalidomide monotherapy. The two companies stated that this decision was made after a thorough review of the commercial reasons for the study.

With the cessation of KarMMa-9 new patient recruitment, 2seventy bio expects to save over $80 million in expenses in the near future, which will aid the company in accelerating its plan for financial balance. Additionally, 2seventy bio has updated the latest sales situation of Abecma, and expects the drug's revenue in the third quarter in the USA to increase by around 30% from the second quarter's $54 million, with the number of new patients also expected to achieve a double-digit growth.

In the multiple myeloma treatment market, 2seventy bio and Bristol-Myers Squibb face direct competition from the FDA-approved CAR-T cell therapy Carvykti jointly developed by Legend Biotech and Johnson & Johnson.