Celgene Corporation (NASDAQ:CELG) announced that 10 studies highlighting combinations that include a foundation of ABRAXANE® (paclitaxel protein-bound particles for injectable suspension)(albumin-bound) and gemcitabine are being presented during the 2016 ASCO Gastrointestinal Cancers Symposium (ASCO GI), establishing the therapy as the foundation for research in first-line metastatic pancreatic cancer.
“ABRAXANE is the only chemotherapy approved in combination with gemcitabine based on an improvement in overall survival for first line metastatic pancreatic cancer patients and is fast becoming the standard of care in this extremely difficult to treat disease,” said Jacqualyn A. Fouse, Ph.D., President, Hematology/Oncology for Celgene. “We are excited that ABRAXANE plus gemcitabine is serving as the foundation for a new wave of potential treatments that may further improve the treatment paradigm in this disease and are fully committed to continuing to serve these patients.”
Studies evaluating new combinations added to ABRAXANE plus gemcitabine being presented at the meeting include:
– Results from a phase 1b study of the anti-cancer stem cell agent demcizumab and gemcitabine +/- nab-paclitaxel in patients with PC (Abstract 341) – Hidalgo
– Results from a phase 1b study of cancer stem cell pathway inhibitor BBI-608 in combination with gemcitabine and nab-paclitaxel in patients with metastatic pancreatic ductal adenocarcinoma (Abstract 284) – Shahda
– Results of the phase 1b portion of a phase 1/2 trial of the indoleamine 2,3-dioxygenase pathway (IDO) inhibitor indoximod plus gemcitabine/nab-paclitaxel for the treatment of metastatic pancreatic cancer. (Abstract 452) – Bahary
– A trial in progress update on nab-paclitaxel (nab-P) + nivolumab (Nivo) ± gemcitabine (Gem) in patients (pts) with advanced pancreatic cancer (PC). (Abstract TPS475) – Firdaus
– A trial in progress update on a randomized, multicenter, double-blind, placebo-controlled study of the Bruton tyrosine kinase inhibitor, ibrutinib, v. placebo in combination with nab-paclitaxel and gemcitabine in first-line mPC (Abstract TPS483) – Tempero
– Interim results of a randomized phase 2 study of PEGPH20 added to nab-paclitaxel/gemcitabine in patients with stage 4 previously untreated pancreatic cancer. (Abstract 439) – Hingorani
– Trial in progress update on a multicenter phase 2 study of istiratumab (MM-141) plus nab-paclitaxel (A) and gemcitabine (G) in metastatic pancreatic cancer (MPC). (TPS481) – Ko
– Trial in progress update on a phase 1 trial with cohort expansion of BYL719 in combination with gemcitabine and nab-paclitaxel in locally advanced and mPC (TPS467) – Soares
– Results from a trial “Synergy of water soluble prodrug triptolide (minnelide) with gemcitabine and nab-paclitaxel in pancreatic cancer. (Abstract 259) – Dudeja
– Results from the RAINIER trial: A randomized, double-blinded, placebo-controlled phase 2 trial of gemcitabine plus nab-paclitaxel combined with apatorsen or placebo in patients with metastatic pancreatic cancer (Abstract 419)- Ko (Original Source)
Shares of Celgene Corporation closed yesterday at $105.46. CELG has a 1-year high of $140.72 and a 1-year low of $92.98. The stock’s 50-day moving average is $111.71 and its 200-day moving average is $118.83.
On the ratings front, Celgene has been the subject of a number of recent research reports. In a report issued on January 20, Credit Suisse analyst Alethia Young initiated coverage with a Buy rating on CELG and a price target of $149, which implies an upside of 41.3% from current levels. Separately, on January 14, Standpoint Research’s Ronnie Moas initiated coverage with a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Alethia Young and Ronnie Moas have a total average return of -11.5% and 4.5% respectively. Young has a success rate of 30.4% and is ranked #3359 out of 3586 analysts, while Moas has a success rate of 65.4% and is ranked #73.
The street is mostly Bullish on CELG stock. Out of 13 analysts who cover the stock, 13 suggest a Buy rating . The 12-month average price target assigned to the stock is $152.00, which represents a potential upside of 44.1% from where the stock is currently trading.
Celgene Corp is a biopharmaceutical company. It is engaged in the discovery, development and commercialization of therapies designed to treat cancer and immune-inflammatory related diseases.