Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Celgene Crashed 30% in October -- and What Now?

TheMotleyFool

0 0

Why Celgene Crashed 30% in October -- and What Now?

Few industry watchers expected much out of GED-0301, yet its failure in a phase 3 study, plus anemic sales growth for one of its most important drugs, caused Celgene Corp. (NASDAQ: CELG) shares to lose 30.8% of their value in October, according to S&P Global Market Intelligence.

On October 19, Celgene pulled the plug on two Crohn's disease studies evaluating GED-0301 after independent monitors determined GED-0301 wouldn't be able to outperform the control arm of its study.

IMAGE SOURCE: GETTY IMAGES.

Source: Fool.com