Cel­gene’s $710M deal on mon­gersen im­plodes as Phase III Crohn's study flops

Cel­gene’s $710 mil­lion cash roll of the dice on the in­flam­ma­to­ry bow­el dis­ease drug mon­gersen (GED-301) has come up snake eyes.

The big biotech $CELG an­nounced Thurs­day evening that it is ter­mi­nat­ing the Phase III on Crohn’s af­ter it failed to pass muster in an in­ter­im fu­til­i­ty analy­sis. An­oth­er planned Phase III study is be­ing scrapped, and the team there will make a fi­nal de­ter­mi­na­tion if there’s any fu­ture left for this drug af­ter they com­plete an analy­sis of Phase II da­ta on ul­cer­a­tive col­i­tis.

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