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BMO Weighs in on Celgene Corporation (CELG) Ahead of Mongersen Phase 2 Data

BMO analyst Ian Somaiya weighs in on shares of Celgene Corporation (NASDAQ:CELG) as the biotech giant is set to soon release upcoming Crohn’s disease-treating Mongersen endoscopic response data from the CD-001 Phase 2 trial.

Somaiya anticipates that the trial data will, “[…] represent a clearing event for CELG shares. Investors have been reluctant to get in front of the data given limited correlation between CDAI and endoscopy measures and complex comparison to biologics’ studies, which used different endpoints / responder analyses vs. CELG guiding to 25% benefit at 12W in SESCD. For shares to move higher, the trial needs...