** 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))
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