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Celgene Corporation (CELG)

  • Thu, Nov. 5, 8:10 AM
    • Celgene (NASDAQ:CELG) Q3 results ($M): Total Revenues: 2,334.1 (+17.8%); Net Product Sales: 2,312.6 (+18.2%).
    • Net Income: (34.1) (-106.7%); EPS: (0.04) (-106.6%); Non-GAAP EPS: 1.23 (+26.8%); CF Ops: 285 (-68.4%). Earnings down due to upfront collaboration expenses led by Juno Therapeutics.
    • Key Product Sales: Revlimid: 1,453.5 (+11.8%); Abraxane: 229.9 (+8.3%); Pomalyst/Imnovid: 256.5 (+41.6%); Vidaza: 147.6 (-6.5%); Otezla: 138.7 (+688.1%).
    • 2015 Guidance: Net Product Sales: $9.0B - 9.5B (unch); Revlimid sales: ~$5.8B from $5.6B - 5.7B; Abraxane sales: $950M - 1.0B from $1.0B - 1.25B; EPS: $2.02 - 2.24 from $2.17 - 2.46; Non-GAAP EPS: 4.75 - 4.85 (unch).
    • Shares are down 4% premarket on increased volume.
    | Thu, Nov. 5, 8:10 AM | 10 Comments
  • Wed, Oct. 21, 1:22 PM
    • As if anyone following biotechs needs reminding, sellers are overwhelming the space. The iShares Nasdaq Biotechnology ETF (IBB -2.8%) is down 6% since Monday.
    • Key tickers: (BIB -6.5%)(BIS +6.3%)(VRX -38.5%)(AGN -5.9%)(BIIB -0.1%)(AMGN -1.7%)(GILD -1%)(CELG -2%)
    | Wed, Oct. 21, 1:22 PM | 66 Comments
  • Tue, Oct. 13, 3:49 PM
    • Getting out in front of what should be more bashing of their business models at the Democratic debate tonight, the healthcare names (XLV -1.3%) have about doubled the decline in the S&P 500. Within healthcare, it's the biotechs (IBB -3.1%) and pharmaceuticals (XPH -3.2%) leading the way south.
    • Celgene (CELG -3.3%), Biogen (BIIB -3.6%), Amgen (AMGN -3.5%), Allergan (AGN -4.1%), Mylan (MYL -3.6%)
    • The biotech heavy Russell 2000 (IWM -1.4%) is feeling the pain as well.
    | Tue, Oct. 13, 3:49 PM | 27 Comments
  • Wed, Sep. 30, 12:49 PM
    • Bruised and battered biotech investors get some welcome buying today as bargain hunters open their wallets. The iShares Nasdaq Biotech Index Fund (IBB +2%) is up nicely, albeit on average volume.
    • Key tickers: (AMGN +1.6%)(BIIB +2.5%)(GILD +1%)(CELG +0.7%)(DEPO +12.4%)(HZNP +8.6%)(NVO +0.7%)(AGN +4.9%)(VRX +6.4%)(REGN +0.9%)(TEVA +2%)(SHPG +2.6%)
    | Wed, Sep. 30, 12:49 PM | 26 Comments
  • Fri, Sep. 25, 3:07 PM
    | Fri, Sep. 25, 3:07 PM | 134 Comments
  • Wed, Sep. 23, 7:59 AM
    • OncoGenex Pharmaceuticals' (NASDAQ:OGXI) experimental apatorsen (OGX-427), in combination with Celgene's (NASDAQ:CELG) Abraxane (paclitaxel) and gemcitabine, failed to show a treatment benefit compared to Abraxane and gemcitabine alone in a Phase 2 clinical trial in treatment-naive metastatic pancreatic cancer patients. The results of the study, called Rainier, will be presented by sponsor Sarah Cannon Research Institute at a future medical conference.
    • CEO Scott Cormack says, "While we are disappointed with the Rainier results, we also recognize the challenges associated with developing effective treatments for such a lethal and complex disease. We remain confident in our broader apatorsen program, which includes ongoing Phase 2 clinical trials in lung, prostate and bladder cancers."
    • Apatorsen is a once-weekly intravenous drug designed to inhibit heat shock protein 27 (Hsp27), an intracellular protein that helps cancer cells survive.
    • There are ~340K new cases of pancreatic cancer each year worldwide. Most patients die within the first year of diagnosis. The five-year survival rate is less than 10%.
    • Shares are off 18% premarket on increased volume.
    | Wed, Sep. 23, 7:59 AM | 1 Comment
  • Tue, Aug. 4, 8:12 AM
    • As permitted under its 2009 Collaboration and Option Agreement with GlobeImmune (NASDAQ:GBIM), Celgene (NASDAQ:CELG) exercises its option to exclusively license GI-6207, a product candidate developed with GlobeImmune's proprietary Tarmogen platform. GI-6207, the second Tarmogen-derived product candidate licensed to Celgene, targets cancers that express carcinoembryonic antigen (CEA). It is currently in Phase 2 development for medullary thyroid cancer (MTC) at the National Cancer Institute. Top-line results are expected in H2 2016.
    • CEA is over-expressed in various human epithelial cancers, including MTC. Preclinical studies showed that GI-6207 could induce an immune response to CEA as well as therapeutic anti-tumor responses. In an earlier Phase 1 trial of monotherapy GI-6207, 20% (n=5/25) of subjects receiving the drug experienced stable or decreased levels of CEA and stable disease.
    • Under the terms of the agreement, GlobeImmune will receive an option exercise payment of $1.9M, regulatory- and sales-based milestones and royalties on commercial sales.
    • There are ~500K new cancer cases each year in the U.S. characterized by the over-expression of CEA.
    • Update: GBIM is up 46% premarket on light volume. CELG is up a fraction.
    | Tue, Aug. 4, 8:12 AM | Comment!
  • Wed, Jul. 15, 10:36 AM
    • Celgene's (CELG +9.5%) $7.2B deal for Receptos (RCPT +10.3%) is “a great acquisition at a great price," Nomura analysts say, as ozanimod could enable CELG's inflammation and immunology franchise to double peak sales to $10B and reduce reliance on Revlimid to drive future growth, and the acquisition price of less than 2x peak sales is a steep discount relative to recent comparisons.
    • Wedbush analyst Liana Moussatos sees plenty of potential upside to justify a rival bidder stepping in for RCPT, noting that she had estimated the company could be valued at $348/share, or ~$10.9B, in a buyout, substantially more than CELG's $232 offer.
    • The deal is boosting some biotech names (IBB +1.9%), including PTC Therapeutics (PTCT +11.7%), Celsion (CLSN +7.1%) and Arena Pharmaceuticals (ARNA +6.7%).
    | Wed, Jul. 15, 10:36 AM | 23 Comments
  • Wed, Jul. 15, 9:15 AM
    | Wed, Jul. 15, 9:15 AM | 4 Comments
  • Tue, Jul. 14, 5:39 PM
    | Tue, Jul. 14, 5:39 PM | Comment!
  • Tue, Jul. 14, 5:15 PM
    • Celgene (NASDAQ:CELG) agrees to acquire Receptos (NASDAQ:RCPT) for ~$7.2B in cash, or $232/share, representing a 12% premium to today's closing price.
    • CELG says the deal will significantly enhance its inflammation and immunology portfolio, diversify its revenue beginning in 2019 and beyond, and build upon its growing expertise in inflammatory bowel disease.
    • The acquisition adds Ozanimod, a drug under trial to treat ulcerative colitis and relapsing multiple sclerosis; annual sales of the drug are expected to peak at $4B-$6B.
    • CELG also says it expects Q2 adjusted EPS of $1.23 vs. $1.13 analyst consensus estimate, and net product sales +22% Y/Y to $2.25B; raises FY 2015 EPS guidance to $4.75-$4.85 from a prior $4.60-$4.75.
    • CELG +4.4% AH, RCPT halted until 5:30.
    | Tue, Jul. 14, 5:15 PM | 28 Comments
  • Tue, Jun. 30, 8:24 AM
    | Tue, Jun. 30, 8:24 AM | 6 Comments
  • Mon, Jun. 29, 4:54 PM
    | Mon, Jun. 29, 4:54 PM | Comment!
  • Mon, Jun. 29, 4:40 PM
    • Juno Therapeutics (NASDAQ:JUNO) jumps 53% after hours on robust volume in response to its announcement of a 10-year collaboration with Celgene (NASDAQ:CELG) to develop and commercialize novel immunotherapies for the treatment of cancer and autoimmune diseases.
    • Under the terms of the agreement, Celgene will make an upfront payment of ~$1B which includes an equity investment of ~$850M (9.1M shares at $93 per share). Celgene has the option of being Juno's commercialization partner for oncology and cell therapy autoimmune product candidates, including its CD19- and CD22-directed CAR-T product candidates, exclusive of B-Cell Maturation Antigen.
    • Juno will be responsible for R&D in North America and will retain commercialization rights in these territories. Celgene will be responsible for development and commercialization in the rest of the world and will pay Juno royalties on net sales. Celgene has the right to select two programs, exclusive of CD19 and CD22, whereby the two firms will share equally in costs and profits in all territories except China. Under certain circumstances, Celgene may select a third program.
    • Juno has the option of co-developing and co-commercializing certain Celgene-originated product candidates that target T cells. Costs and profits will be shared with Celgene on a 70/30 basis (70% - Celgene).
    • The upfront payment consists of $150M in cash plus the purchase of 9,137,672 shares of Juno common stock at $93 per share. Under certain circumstances, Celgene could acquire up to a 30% stake in Juno.
    • The companies will host a conference call at 5 pm ET today to discuss the deal.
    | Mon, Jun. 29, 4:40 PM | 28 Comments
  • Thu, Jan. 29, 7:33 AM
    • Celgene (NASDAQ:CELG): Q4 EPS of $1.01 beats by $0.02.
    • Revenue of $2.09B (+18.7% Y/Y) beats by $10M.
    • Shares +1.08% PM.
    • Press Release
    | Thu, Jan. 29, 7:33 AM | 5 Comments
  • Dec. 8, 2014, 12:37 PM
    • Biotech investors are giving Seattle Genetics (SGEN -8.4%) the cold shoulder today on increased volume. It appears that all the love is being directed to the potential of competitors' PD-1 inhibitors in fighting cancer despite the company's presentations at the American Society of Hematology meeting of positive results for Adcetris (brentuximab vedotin), an antibody-drug conjugate directed to CD30 in Hodgkin lymphoma (HL).
    • Long-term data from a Phase 1 trial of Adcetris combined with AVD (adriamycin, vinblastine, dacarbazine) demonstrated a 100% overall survival rate at year three and 92% failure-free survival rate at year 3 in frontline HL.
    • Adcetris in combination with bendamustine as a second-line therapy demonstrated an objective response rate of 96% and a complete remission rate of 83% in patients with relapsed or refractory HL.
    • In a Phase 2 trial in previously untreated HL patients aged 60 and older, Adcetris showed a 93% objective response rate.
    • The company is collaborating with Takeda Pharmaceutical Co. (OTCPK:TKPHF) (OTCPK:TKPYY) on the development of the product.
    • Previously: Positive results in Adcetris Phase 3 label expansion trial (Sept. 29, 2014)
    • PD-1 inhibitor-related tickers: (BMY +0.2%)(FPRX +4.8%)(MRK -0.2%)(CELG +4.2%)(OTCQX:RHHBY -0.5%)(AZN -0.6%)
    | Dec. 8, 2014, 12:37 PM | 1 Comment
Company Description
Celgene Corp is a biopharmaceutical company. It is engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.
Sector: Healthcare
Industry: Biotechnology
Country: United States