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Stock Market & Financial Investment News

News Breaks
July 9, 2014
11:57 EDTCELGCelgene shares higher despite missing primary endpoint in Otezla trial
Celgene Corporation (CELG) this morning said one of its drug, Otezla, did not achieve the primary endpoint in a Phase III trial. WHAT'S NEW: The biopharmaceutical company said Otezla, an oral treatment for adults with active psoriatic arthritis, did not achieve a statistically significant improvement when compared to placebo in its Phase III POSTURE study in patients with ankylosing spondylitis, a inflammatory spinal joint disorder. Despite missing the study's primary endpoint, Celgene said the drug did show "meaningful efficacy" in patients with early stages of the disease who took Otezla for a longer period. The company said evaluation of these efficacy results is ongoing. WHAT'S NOTABLE: Despite missing the primary endpoint, Celgene said that based on an assessment of the safety and efficacy data at week 24, an independent data monitoring committee recommended that the study proceed unchanged. Scott Smith, Global Head of Inflammation & Immunology at Celgene, says that the company is "encouraged" by its preliminary results, especially in patients with shorter disease duration. Smith said the company is planning to start another Phase III trial after it does more analysis. Celgene noted that Otezla is not approved to treat ankylosing spondylitis in any country. PRICE ACTION: Celgene shares were down as much as 1.5% earlier this morning, but are now up $1.12, or 1.31%, to $86.84 in late-morning trading. Year-to-date, shares are up nearly 3%.
News For CELG From The Last 14 Days
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April 27, 2015
07:31 EDTCELGCelgene to acquire Quanticel Pharmaceuticals for $100M in cash
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April 26, 2015
12:50 EDTCELGApple, Celgene, others are 'top picks' for spring, Barron's says
In a survey of U.S. money managers, shares of Apple (AAPL), Dow Chemical (DOW), American Airlines (AAL), Celgene (CELG), General Motors (GM), and McDermott (MDR) were identified as top picks for this spring, Barron's contends in its cover story. Reference Link
April 24, 2015
10:59 EDTCELGCelgene call activity attributed to vague takeover speculation
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10:22 EDTCELGRumor: Celgene active on vague takeover speculation
Celgene (CELG) shares are active on speculation Bristol-Myers (BMY) may be interested in acquiring the company.
05:39 EDTCELGCelgene announces strategic collaboration with AstraZeneca
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April 23, 2015
17:45 EDTCELGCelgene announces fulfillment of approval requirements for POMALYST
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09:20 EDTCELGCelgene patent latest to be challenged by Hayman Capital's Bass
The Coalition For Affordable Drugs, a group linked to Hayman Capital's Kyle Bass, has requested an Inter Partes Review of Claims 110 of U.S. Patent No. 6,045,501 held by Celgene (CELG), according to a USPTO filing. The 501 patent claims methods for delivering a drug, including a teratogenic drug, to a patient while preventing the exposure of a fetus or other contraindicated individuals to the drug. The patent is related to the company's Revlimid drug. BACKGROUND: Previously, the same coalition requested an Inter Partes Review of patents held by Pharmacyclics (PCYC), Acorda Therapeutics (ACOR), Shire (SHPG) and Jazz Pharmaceuticals (JAZZ). On January 7, Reuters reported that Bass planned to take "around 15 pharmaceutical companies with a combined market capitalization of $450B" into an Inter Partes Review for extending patents in questionable ways, citing a presentation made by Bass in Oslo. PRICE ACTION: Shares of Celgene are down 0.5% to $114.92 in pre-market trading.
April 15, 2015
17:08 EDTCELGCelgene announces phase 2 Apremilast data
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