The purpose of this study is to assess the safety, tolerability, drug levels, drug effects, and impact on disease severity of BMS-986326 in participants with moderate-to-severe atopic dermatitis (AD).

Inclusion Criteria:

• Must have diagnosis of atopic dermatitis (AD) at least 12 months prior to screening

• Documented history of inadequate response to treatment with topical medication for at least 4 weeks, unless topical treatments are otherwise medically inadvisable, or has required systemic therapy for control of disease

• All the following must be present to confirm moderate-to-severe AD

  • Eczema Area and Severity Index score ≥ 12 (at Screening and Day 1)
  • Body Surface Area ≥ 10% (at Screening and Day 1)
  • Validated Investigator Global Assessment for Atopic Dermatitis ≥ 3 (at Screening and Day 1)
  • Peak Pruritus Numerical Rating Scale ≥ 4 (at Screening)

Exclusion Criteria:

• Evidence of an active and/or concurrent inflammatory skin condition that would interfere with the Investigator or subject-driven evaluations of AD
• Any major surgery within the last 30 days before the first dose of study intervention, or any surgery planned during the course of the study
• Any other sound medical, psychiatric, and/or social reason as determined by the investigator

Other protocol-defined inclusion/exclusion criteria apply

BMS will provide access to individual anonymized participant data upon request from qualified researchers, and subject to certain criteria. Additional information regarding Bristol Myer Squibb's data sharing policy and process can be found at: https://www.bms.com/researchers-and-partners/clinical-trials-and-research/disclosurecommitment.html