Bristol-Myers Squibb acquires 2seventy bio for $286M, marking the end of a once-promising biotech. Check out if this is a good deal for BMY or TSVT.

Bristol Myers Squibb will acquire 2seventy bio for about $286 million in cash, sending the cancer cell therapy maker's shares up 76% in premarket trading on Tuesday.

EC approves BMY's Breyanzi for relapsed or refractory FL, based on Phase 2 study showing high response rates & sustained efficacy.

Abecma is being jointly developed and commercialized in the U.S. as part of a co-development, co-promotion, and profit share agreement between Bristol Myers Squibb and 2seventy bio. Bristol Myers Squibb assumes sole responsibility for Abecma drug product manufacturing and commercialization outside of the U.S.