** Shares of drugmaker Bristol Myers Squibb BMY.N fall 6.8% to $46.41 after the bell

** BMY says its drug Cobenfy failed to show to statistically significant difference compared to placebo in a late-stage trial studying it as an add-on treatment for schizophrenia

** In September, the U.S. Food and Drug Administration approved the drug, making it the first new type of antipsychotic medicine in decades

** BMY had obtained drug Cobenfy, also known as KarXT, through its $14 billion takeover of Karuna Therapeutics in 2023

** So far this year, BMY stock down about 12%, as of last close

(Reporting by Savyata Mishra in Bengaluru)

((Savyata.Mishra@thomsonreuters.com))