Celgene (CELG 108.45, +2.36) has climbed 2.2% in response to a pair of positive updates from studies being conducted by the company.
Celgene's partnership with bluebird bio (BLUE 222.70, +51.55) on the development of an anti-B-cell maturation antigen (BCMA) CAR T cell therapy has produced promising results, giving a significant boost to bluebird bio. These results are discussed in a separate Story Stocks comment.
Celgene's second update pertained to the company's partnership with Juno Therapeutics (JUNO 59.20, +0.55), aimed at developing a treatment for patients with relapsed or refractory aggressive B-cell non-Hodgkin lymphoma. The TRANSCEND study has produced encouraging efficacy and tolerability data. The study raises expectations that the two companies will be able to develop a best-in-class treatment. Patients from a pivotal cohort will continue being enrolled and earlier lines of therapy, additional therapeutic areas, and combinations will be explored over the next 12 to 18 months.
Today's advance has helped Celgene narrow its 2017 loss to 6.7%.