Celgene Soars on Test Data

The firm says it will seek FDA OK for using Revlimid on previously treated multiple myeloma patients.
By TSC Staff ,

Celgene

(CELG) - Get Report

shares soared Monday after the company reported positive data for its blood cancer drug Revlimid.

Celgene said the clinical data found a statistically significant improvement in time to disease progression -- the primary endpoint of the phase III trials -- in patients receiving Revlimid plus dexamethasone compared to patients receiving dexamethasone alone.

The trials involve 705 patients at 97 sites internationally.

The company also said it had "initiated discussions" with the Food and Drug Administration and international regulatory authorities "regarding the submission of this data for potential approval."

"Following preliminary analysis we plan to use this data as the basis of a regulatory submission to the FDA and international regulatory agencies for Revlimid in previously treated multiple myeloma patients," the company said in a statement.

Shares rose $4.71, or 16.4%, to $33.39 in the premarket.

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