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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