Celldex Therapeutics Inc said it would discontinue a late-stage study of its brain cancer vaccine after an independent interim analysis suggested the therapy might not show a statistically significant benefit in patient survival compared with standard chemotherapy. Celldex shares more than halved to $3.76 in premarket trading on Monday. The vaccine, Rintega, belongs to an emerging class of drugs that spur the immune system to recognize and attack cancer.
Celgene Corp on Monday launched a 10-year partnership with Juno Therapeutics, announcing a $1 billion investment aimed at bringing to market Juno technologies that harness the immune system to treat cancer and autoimmune diseases. The huge vote of confidence propelled Juno’s shares more than 40 percent higher to $65.75 in heavy extended trading. Celgene will pay Juno about $150 million upfront and buy about 9.1 million newly issued Juno shares at $93 each, double Juno’s closing price on Monday.