Celgene (CELG) - Get Report announced that ozanimod, its treatment candidate for patients with relapsing multiple sclerosis, achieved primary test results of reducing patients' annualized relapse rate when compared to Biogen's (BIIB) - Get Report Avonex treatment. Monday's announcement sent the stock up nearly 1% premarket.
"We plan to begin submitting global registration dossiers by the end of the year to bring this oral therapy to patients with relapsing multiple sclerosis," Celgene exec Terrie Curran said.
Celgene shares are up about 1% year to date, but have risen more than 15% over the past 12 months.
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