Why Celgene Corporation Bounced Back in July [The Motley Fool]
CELGENE (CELG)
Last celgene earnings: 10/31 07:30 am
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Source: The Motley Fool
The biotech company racked up a trio of clinical hits last month, sparking a double-digit rally in its shares. George Budwell ( TMFGBudwell ) Aug 10, 2018 at 9:00AM What happened After a prolonged losing streak, Celgene Corporation 's ( NASDAQ:CELG ) stock rebounded quite nicely last month by gaining 13.4%, according to data from S&P Global Market Intelligence . What sparked this rally? Celgene's shares perked up in response to three positive late-stage trial readouts in July. Specifically, the company reported that its experimental anemia medicine luspatercept -- that's licensed from Acceleron Pharma -- struck gold in two late-stage trials for both myelodysplastic syndromes and beta-thalassemia early in the month. Image source: Getty Images. Towards the end of the month, Celgene also announced that its flagship drug Revlimid succ
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