Bristol Myers falls as heart disease drug fails in late-stage trial

Shares of drugmaker Bristol Myers Squibb BMY.N fall 1.6% to $50.50 in extended trading

Co says its experimental heart disease drug, mavacamten, did not meet the main goals in a late-stage study

The drug was being tested to treat adult patients with with the so-called non-obstructive form of hypertrophic cardiomyopathy (nHCM), an inherited condition characterized by thickening of heart muscles

The drug, branded as Camzyos, did not improve symptoms or exercise more easily in patients with nHCM

The drug is already approved in the U.S. for the obstructive form of the disease

As of last close, stock down 9.2% YTD