Boston, MA 07/12/2013 (wallstreetpr) – In the recently announced results for the Phase III studies of REVLIMID which was tested in combination with dexamethasone, it was reported that the primary endpoint was effectively reached. The test was conducted on patients who were recently diagnosed with multiple myeloma. The Phase III studies have resulted in the primary endpoints of attaining progression-free survival of patients.
The drug is under development by the wholly owned subsidiary of CELG, the Celgene International Sarl. The Phase III studies consisted of dosing the patients with a doublet regimen of continuous oral Lenalidomide, along with a low dose of dexamethasone. The results proved to be statistically significant and there were effective improvements in the progression-free survival of the patients. These studies prove to be one of the first of their kind, and major randomized studies at the international level included 1,623 patients who received the prescribed doses for a period of 72 weeks in 28 day random cycles.
The recent reports on the achievement of primary endpoints in these phase III studies were a milestone achievement for the pharmaceutical company that has recently recording significant share price gains.
Celgene Corporation (NASDAQ:CELG) closed at $134.92 on Thursday, recording an increase of 7.87% in the share price for the day. The stock price fluctuated from a low value of $131.67 to a high one of $136.36 per share. The company currently has a 52-week low of $61.89 and a 52-week high of $136.36 per share. Celgene currently has 417.12 million outstanding shares in the market with institutional ownership of 84% of its total equity capital. Trading volume stood at 6.02 million shares on Thursday, with an average one for Celgene at 2.82 million shares per day.
