A

s Celgene struggles to recover from several setbacks that have battered its stock, one Wall Street analyst issued a sobering assessment of its pipeline performance that suggests the lack of investor confidence is well deserved.

In explaining his rationale, Leerink analyst Geoffrey Porges started out by pointing to a cataclysmic event last fall. The biotech discontinued development of a drug for combating Crohn’s disease, a treatment that had been expected to provide an important new revenue stream.

Unlock this article by subscribing to STAT Plus today. Try it FREE for 30 days and cancel anytime!

SUBSCRIBE TODAY

What is it?

STAT Plus is a premium subscription that delivers daily market-moving biopharma coverage and in-depth science reporting from a team with decades of industry experience.

What's included?

  • Authoritative biopharma coverage and analysis, interviews with industry pioneers, policy analysis, and first looks at cutting edge laboratories and early stage research
  • Subscriber-only networking events and panel discussions across the country
  • Monthly subscriber-only live chats with our reporters and experts in the field
  • Discounted tickets to industry events and early-bird access to industry reports

Leave a Comment

Please enter your name.
Please enter a comment.

Sign up for our Morning Rounds newsletter

Your daily dose of what’s new in health and medicine.

Privacy Policy