The American Society of Hematology's Annual Meeting Is Moving Stocks (CELG, MLNM)
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The American Society of Hematology is currently hosting its annual meeting, started on Saturday, December 8, and going until tomorrow, the 11th, for blood diseases. The meeting brings together 21,000 clinicians and scientists in an attempt to educate the audience on cutting-edge, new programs to help treat blood diseases.
This year\'s meeting, hosted in Atlanta, is highlighting clinical results from several companies, including Celegene (Nasdaq: CELG) and Millennium Pharmaceuticals (Nasdaq: MLNM), about the progression of new multiple myeloma treatments. The much anticipated data showed that Milleniums Velcade is outperforming Celegenes Revlimid in clinical trials, thus the reason why one stock is sitting at a new 52-week high and the other a new 52-week low, respectively. Shares of Millennium are up nearly 10% today, moving as high as $16.62, while shares of Celegene are down more than 15% to $47.21.
Although the Celegene and Millennium used slightly different metrics to show results on their respective drugs, analysts viewed Revlimid\'s 87% survival rate as lagging behind Velcade\'s 36% complete remission rate during the clinical trials.
This year\'s meeting, hosted in Atlanta, is highlighting clinical results from several companies, including Celegene (Nasdaq: CELG) and Millennium Pharmaceuticals (Nasdaq: MLNM), about the progression of new multiple myeloma treatments. The much anticipated data showed that Milleniums Velcade is outperforming Celegenes Revlimid in clinical trials, thus the reason why one stock is sitting at a new 52-week high and the other a new 52-week low, respectively. Shares of Millennium are up nearly 10% today, moving as high as $16.62, while shares of Celegene are down more than 15% to $47.21.
Although the Celegene and Millennium used slightly different metrics to show results on their respective drugs, analysts viewed Revlimid\'s 87% survival rate as lagging behind Velcade\'s 36% complete remission rate during the clinical trials.
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