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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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May 21, 2015
08:08 EDTCELGAgios Pharmaceuticals to present data at 20th Congress of EHA
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May 19, 2015
08:17 EDTCELGCelgene says patients experienced clinical remission in Phase II GED-0301 trial
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May 18, 2015
08:44 EDTCELGCelgene data positive, says SunTrust
SunTrust believes that data presented for Celgene's GED-0301 in Crohn's indicated that the drug is effective irrespective of baseline disease severity and CRP levels.Consequently, the firm thinks the data addressed questions raised in an NEJM editorial about the drug. It keeps a $141 price target and Buy rating on the shares.
07:31 EDTCELGCelgene, Acceleron granted fast track designations for luspatercept
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May 14, 2015
11:11 EDTCELGAnalysts divided on significance of Celgene blood cancer drug data
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May 13, 2015
17:42 EDTCELGCelgene announces over 55 blood, solid tumor cancer study presentations at ASCO
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May 12, 2015
07:33 EDTCELGAlliqua announces licensing agreement with Celgene
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