
May turned out to be a month of mixed fortunes as far as regulatory reviews are concerned. New molecular entity approvals, an indicator of innovation in drug research, totaled three during the month, bringing the total for the year to 15. This compares to the 24 NMEs the Food and Drug Administration approved by May 2021.
Among the companies that received the FDA's greenlight were Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), Bristol-Myers Squibb Company (NYSE:BMY) and Novartis AG (NYSE:NVS).