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Celgene Corp. (CELG) Message Board

  • rob_cos rob_cos Nov 7, 2013 10:25 PM Flag

    Citi MM-020 better OS-This is a Derisking Event and Is Best Case Scenario - Safety Looks Solid

    Citi...Alert: MM-020 Shows Better Overall Survival – Safety Looks Solid – This is a Derisking Event and Is Best Case Scenario

    Our Take – The MM-020 data is a best case outcome. The overall survival on Rd is solid and safety looks clearly better than MPT. This is a derisking event and will very likely lead to approval. We see no issues and this should answer all of the outstanding previous concerns of the CHMP regarding Revlimid’s safety. The stock should recover nicely as this is a clean growth story with 20% EPS CAGR. We also believe that apremilast’s consensus ests in 2014 are beatable and this should pave the way to good stock returns in 2014. CELG and GILD are our top picks for the lg cap group and on Citi’s 50 World Champions List. MDVN is our top SMID idea on Citi’s Focus List. The MM-020 data will be published by YE ’13 or early ’14 likely in the NEJM and will very clearly show the OS curves

    MM-020 Data Looks Good – OS Trend Much Better Than Expected – The MM-020 abstract looks good overall with better than expected overall survival trend of a 22% reduction in risk of death (HR=0.78) with a p=0.01685. This is a solid trend and just missed hitting the pre-specified boundary of p

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