They were probably playing dumb, as this must have been in the pipe for a while. BMS are aggressive in shoring up their own IO position, so it cannot be discounted about something counter. Right now, Merck has stolen the march in IO and this is why BMS have been aggressively ramping up their R&D effort to make sure that they can be stay with Merck.
VLA Price at posting:
61.5¢ Sentiment: Buy Disclosure: Held
