Af­ter bumpy 2017, Cel­gene CEO says tak­ing risk is the on­ly way for­ward

SAN FRAN­CIS­CO — Cel­gene’s CEO Mark Alles kicked off JPM this morn­ing re­as­sur­ing in­vestors that bets on new­ly-ac­quired as­sets will keep the com­pa­ny’s mo­men­tum strong — de­spite a rocky 2017.

Still, the com­pa­ny’s stock $CELG is down 2.9% fol­low­ing the pre­sen­ta­tion, like­ly due to the an­nu­al rev­enue fore­cast for 2018, which came in slight­ly un­der Wall Street’s ex­pec­ta­tions at $14.4 bil­lion to $14.8 bil­lion. The av­er­age es­ti­mate from an­a­lysts was $14.83 bil­lion.

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