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News Breaks
July 9, 2014
07:04 EDTCELGCelgene says OTEZLA did not achieve primary endpoint in Phase III trial
Celgene Corporation announced results of its phase III POSTURE study evaluating OTEZLA, the companyís oral, selective inhibitor of phosphodiesterase 4, in patients with active ankylosing spondylitis. The OTEZLA arms did not achieve statistically significant improvement versus the placebo arm for the primary endpoint, the percentage of patients who achieve an ASAS 20 response at week 16. However, in a prespecified analysis, meaningful efficacy was observed at Week 24 in a large subset of patients with early-stage disease. Evaluation of the efficacy results is ongoing. An independent data monitoring committee recommended that the study proceed unchanged, based on an assessment of the safety and efficacy data at week 24. According to the protocol, magnetic resonance imaging data will be collected in a subgroup of subjects at week 52 and at additional time points, and radiographs will be taken on all study patients at week 104 and at additional time points. The safety and tolerability data observed in the POSTURE study are consistent with previously reported phase II data in ankylosing spondylitis, as well as six phase III studies of OTEZLA in psoriatic arthritis or psoriasis. No new safety signals were observed. The evaluation of safety and efficacy in the treatment arms is ongoing and the results of the study will be presented at an upcoming medical meeting. These results are from an investigational phase III study. OTEZLA is not approved for the treatment of patients with ankylosing spondylitis in any country.
News For CELG From The Last 14 Days
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October 28, 2014
07:50 EDTCELGCelgene added to US 1 List at BofA/Merrill
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07:24 EDTCELGCelgene added to US 1 List at BofA/Merrill
October 27, 2014
12:44 EDTCELGStocks with call strike movement; CELG MYL
Celgene (CELG) April 115 call option implied volatility increased 4% to 30, Mylan (MYL) April 60 call option implied volatility increased 3% to 29 according to IVolatility.
October 24, 2014
07:19 EDTCELGCelgene pipeline could double market cap in 3-5 years, says Deutsche Bank
Deutsche Bank raised its price target for Celgene shares to $134 from $115 following the company's Q3 results saying its pipeline could potentially double the market capitalization over the next 3-5 years. Deutsche views Celgene's pipeline as "the most transformative in biotech" and keeps a Buy rating on the stock.
07:18 EDTCELGCelgene price target raised to $117 from $104 at JMP Securities
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07:13 EDTCELGCelgene price target raised to $119 from $99.50 at Citigroup
Citigroup raised its price target for Celgene shares to $119 following the company's Q3 results on expectations Revlimid will continue to drive growth. It keeps a Buy rating on the stock.
06:53 EDTCELGCelgene price target raised to $120 from $105 at Cantor
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October 23, 2014
12:20 EDTCELGOn The Fly: Midday Wrap
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10:54 EDTCELGAcceleron, Celgene to present sotatercept prelinical interim clinical data
Acceleron Pharma (XLRN) reported that its collaboration partner, Celgene (CELG), and investigators on the sotatercept program will present sotatercept preclinical and interim clinical data at the American Society of Nephrology Kidney Week 2014. The meeting will be held in Philadelphia on November 11-16. Preliminary data, including safety and effects on hemoglobin, bone density and vascular calcification from the ongoing phase 2a clinical trial of sotatercept will be presented on Thursday, November 13. Additionally, data from preclinical studies will be presented on Friday and Saturday, November 13 and 14.
07:33 EDTCELGCelgene raises FY14 adjusted EPS view to $3.65-$3.70 from $3.60-$3.65
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07:32 EDTCELGCelgene reports Q3 REVLIMID sales $1.3B
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07:32 EDTCELGCelgene reports Q3 adjusted EPS 97c, consensus 95c
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October 22, 2014
15:37 EDTCELGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 71c; Union Pacific (UNP), consensus $1.52; 3M (MMM), consensus $1.96; AbbVie (ABBV), consensus 77c; Celgene (CELG), consensus 95c; Eli Lilly (LLY), consensus 67c; Occidental Petroleum (OXY), consensus $1.57; Caterpillar (CAT), consensus $1.36; Alexion Pharmaceuticals (ALXN), consensus $1.16; Precision Castparts (PCP), consensus $3.32; Raytheon (RTN), consensus $1.60; American Electric Power (AEP), consensus $1.02; Southwest Airlines (LUV), consensus 53c; Lorillard (LO), consensus 90c; T. Rowe Price (TROW), consensus $1.15; Mead Johnson (MJN), consensus 91c; Zimmer Holdings (ZMH), consensus $1.30; Nucor (NUE), consensus 73c; Nielsen (NLSN), consensus 65c; Prologis (PLD), consensus 46c; Sigma-Aldrich (SIAL), consensus $1.06; Under Armour (UA), consensus 40c; EQT (EQT), consensus 56c; Dr Pepper Snapple (DPS), consensus 88c; Cameron International (CAM), consensus $1.10; Coca-Cola Enterprises (CCE), consensus 89c; Quest Diagnostics (DGX), consensus $1.08; CMS Energy (CMS), consensus 41c; Airgas (ARG), consensus $1.29; PulteGroup (PHM), consensus 36c; Diamond Offshore (DO), consensus 79c; Bemis (BMS), consensus 67c.
11:55 EDTCELGStocks with call strike movement; YHOO CELG
Yahoo (YHOO) January 48 call option implied volatility decreased 6% to 32, Celgene (CELG) April 110 call option implied volatility increased 2% to 32 according to IVolatility.
11:38 EDTCELGBiogen retreats after Tecfidera sales miss, patient death reported
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11:01 EDTCELGBiogen trading lower on slower growth, PML case, says Deutsche Bank
Deutsche Bank attributes the pullback in shares of Biogen (BIIB) to slower sequential revenue growth and the one PML case with Tecfidera disclosed on today's earnings call. Deutsche believes investors are now favoring Celgene (CELG) over Biogen due to near term headline risks. The firm says it likes Celgene more as well due its pipeline, but keeps a Buy rating on Biogen.
October 21, 2014
09:23 EDTCELGCelgene GED-0301 said to have 67% 12-week remission at high dose in trial
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October 20, 2014
13:26 EDTCELGCelgene I&I franchise boosted by Crohnís trial data, says William Blair
William Blair said it views the preliminary Phase II efficacy and safety data from mongersen in Crohnís disease reported by Celgene as encouraging. The firm noted that the 10 mg arm did not achieve significance, but the three data points collectively formed a robust dose-response that William Blair said lends support for the drug's proposed mechanism of action. William Blair believes mongersen complements Celgeneís Inflammation & Immunology portfolio and the firm maintains its Outperform rating on the stock, which is up 4% to $91.65 in afternoon trading.
13:21 EDTCELGCelgene reports Phase II data in Crohnís Disease to be presented at UEG
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October 17, 2014
13:18 EDTCELGLeerink's biotech analyst holds an analyst/industry conference call
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