Cantor Fitzgerald Reiterates a 'Buy' on Celgene (CELG); Raising PT on Increased Confidence
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Celgene (CELG) Unit Reports Statistically Significant Data for ACR20 in Phase III
September 6, 2012 7:42 AM EDTCelgene International SÃ rl, a subsidiary of Celgene Corporation (NASDAQ: CELG) today announced that statistical significance for the primary endpoint of ACR20 at week 16 was achieved for patients receiving apremilast 20 mg and 30 mg BID in both the PALACE-2 & 3 phase III studies. Positive PALACE-1 data was previously reported. PALACE-2 & 3 are the second and third of three pivotal phase III, randomized, placebo-controlled studies evaluating the Companys novel, oral small-molecule inhibitor of phosphodiesterase 4 (PDE4) in patients with psoriatic arthritis who had received or failed oral disease-modifying antirheumatic drugs (DMARDs), and/or an anti-tumor necrosis factor... More
