Bristol Myers pushes Cobenfy Alzheimer’s psychosis readout to early 2027 after enrollment delays

Bristol Myers Squibb said the Phase 3 readout for its Cobenfy Alzheimer’s psychosis program will be postponed to early 2027. The company had previously expected data from the three Adept trials to be released in 2026.

The delay is attributed to slower patient enrollment in the Adept‑2 and Adept‑4 studies and a lag in relapse event accrual in Adept‑1. Because of these issues, the company will spread the trial results across the coming year.

BMS indicated that an interim analysis of Adept‑1 could occur later this year, and it plans to share safety and efficacy data from the open‑label lead‑in portion of the trial in the same timeframe.

Even with the postponed readout, BMS delivered a quarterly earnings beat and raised its financial forecast, keeping its top‑line performance strong despite the setback for the Cobenfy asset.