Celgene Corp. (CELG) – Buzz Stock of the Day

Shares of cancer drug maker, Celgene Corp. were up 6 percent from Friday’s close after the company announced positive results from a Phase II study of lenalidomide (REVLIMID) in untreated patients with chronic lymphocytic leukemia at the annual meeting of the American Society of Clinical Oncology (ASCO).

Results of the Phase II single-arm study reported that at a median follow-up of 23 months, the overall response rate (OR) for 60 evaluable patients was 62 percent, and 15 percent of patients achieved a complete response (CR/CRi). At the median follow-up, median progression-free survival had not been reached and the overall survival rate was 90 percent. The most common grade 3 or 4 adverse events reported in the study were neutropenia (38 percent of cycles), thrombocytopenia (14 percent of cycles), and anemia (<1 percent of cycles). Grade 3-4 infections were observed in 15 percent of patients.

[–quote–]

REVLIMID is an IMiDs® compound, which along with other IMiDs continue to be evaluated in over 100 clinical trials. The IMiDs pipeline is covered by a comprehensive intellectual property estate of issued and pending patent applications in the US, EU and other regions, including composition-of- matter and use patents. REVLIMID is approved in combination with dexamethasone for the treatment of patients with multiple myeloma who have received at least one prior therapy in nearly 50 countries, encompassing Europe, the Americas, the Middle-East and Asia, and in combination with dexamethasone for the treatment of patients whose disease has progressed after one therapy in Australia and New Zealand.

Shares of Celgene Corp. are up 20 percent over the past 12 months.

Tags: ASCO, biotech, cancer, celg, celgene, clinical data, nasdaq

This entry was posted on Monday, June 7th, 2010 at 9:06 pm by Sheryl and is filed under Health Care Stocks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.