Novartis (NVS) and Bristol Myers (BMY) Pause Autoimmune CAR-T Studies. Can Their Programs Recover?

On September 1, 2026, the Wall Street Journal first reported that Novartis AG (NYSE:NVS) paused eight clinical trials of its experimental CAR-T cell therapy rap-cel in autoimmune and neurological conditions, including lupus, rheumatoid arthritis, and multiple sclerosis. It happened after three patients died from immune effector cell-associated hemophagocytic syndrome, a rare and severe immune reaction. Bristol-Myers Squibb Company (NYSE:BMY) separately paused enrollment in its own competing CAR-T program, zola-cel, as a precaution after observing what the company described as "transient and reversible" inflammatory events, though without any reported deaths.