Acceleron Pharmaceuticals and Celgene Rise on Meeting Study Goals



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.

Article continues below advertisement

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.

Check out all the data we’ve added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data as well as dividend info. Take a look!


More From Market Realist