Shares of Bluebird Bio (BLUE) and Celgene (CELG) fell Monday on concerns their jointly developed cell therapy for multiple myeloma could be threatened by a novel antibody drug that emerged from Amgen’s (AMGN) pipeline this weekend.
In an early stage clinical trial, four of five patients with multiple myeloma were treated with the Amgen therapy and had stringent “complete responses,” meaning they presented with no detectable disease. The patients, who had failed to respond to multiple lines of previous medicines, continued to show no detectable disease after 10 months of follow-up with the treatment, called AMG 420. The drug was well-tolerated.
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