SAC Capital Discloses 7% Stake in Pharmion

Includes: CELG, PHRM
by: Lon Juricic

In a 13D filing this morning on Pharmion Corporation (Nasdaq: PHRM), Steve Cohen's SAC Capital disclosed a 7.1% stake (2,675,000 shares) in the company. The firm held 212,357 Pharmion shares at the quarter ended Sept 30, 2007.

Cohen's firm didn't make any direct requests of Pharmion, which is currently in a cash/stock merger agreement with Celgene Corporation (Nasdaq: CELG).