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Acceleron Pharmaceuticals and Celgene Rise on Meeting Study Goals

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Nov. 20 2020, Updated 5:15 p.m. ET

Celgene and Acceleron Pharmaceuticals announced positive study data for their blood disorder drug

Today, Celgene (CELG) and Acceleron Therapeutics (XLRN) stocks are trending higher on the news of their Phase 3 clinical trial for luspatercept meeting its goal. Acceleron said that the drug reported a significant reduction in the need for blood transfusions in patients with MDS (myelodysplastic syndrome). CELG and XLRN stocks rose ~4% and 42%, respectively.

Luspatercept targets a protein that helps increase the production of late-stage red blood cells. MDS is a bone marrow disease similar to cancer that leads to decreased production of red blood cells. With disease progression, a large number of patients stop responding to ESA (erythropoietin-stimulating agent) drugs such as Amgen’s (AMGN) Epogen, which promotes early-stage red blood cell production and develops a dependency on regular blood transfusions.

The companies didn’t disclose the detailed study results, which are to be presented in a future meeting.

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Study results

As per the companies, the Phase 3 trial results showed that “luspatercept achieved a highly statistically significant improvement in the percentage of patients who became independent of red blood cell transfusions for at least eight consecutive weeks compared to a placebo.”

Moreover, Acceleron and Celgene are conducting another Phase 3 clinical trial of luspatercept in patients with another blood disease, beta-thalassemia, for which the company expects to release results in July.

As per Wall Street analysts, luspatercept sales of ~$900 million are expected by 2024.

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