Celgene Reports Positive Results In Trial Of Multiple Sclerosis Treatment

By Ciara Linnane Markets MarketWatch Pulse

Celgene Corp. shares rose about 1% premarket before surrendering their gains, after the company reported positive results from a late-stage trial of a treatment for multiple sclerosis. Celgene said the phase III trial of ozanimod, an investigative treatment for patients with relapsing MS, met its primary goal of reducing the annualized relapse rate, compared with weekly interferon. The trial involved 1,313 patients in 21 countries and evaluated two doses of the drug (0.5 mg and 1 mg). "We plan to begin submitting global registration dossiers by the end of the year to bring this oral therapy to patients with relapsing multiple sclerosis," Terrie Curran, president of Celgene inflammation and immunology, in a statement. Celgene shares have gained 1% in 2017 through Friday, while the S&P 500 has gained 6%.

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