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Celgene Value

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I rebought Celgene today, I expect good results on May 4th and perhaps breaching $100, even $115.

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What a killer day, not the best set up for May 4th, or perhaps a good one. I average down. $89 average now. 

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Mizuho analyst Salim Syed argued if the FDA's decision on ozanimod is related to the CC112273 metabolite, it's really a nonissue. More than 4,000 human patients have taken ozanimod over two years.

"If there was a deleterious effect on (effectiveness), safety or (toxicology), it would have shown up," he said in a report. "Going back to introduce massively higher levels of the metabolite than animals create on their own, when we already know this does not impair safety or (effectiveness) in humans is irrelevant."

He added, "It's creating a condition that does not exist."

Syed also performed a survey of 56 investors. Of those, 37% believe Celgene will refile with the FDA for approval in the first half of 2019. Slightly less, 36%, expect the firm to refile in the second half of 2018.

Nice to see Morgan Stanley smoking up the room for nothing.

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Holding to CELG before Q1 results tomorrow, so far only ABBV and EXEL had a good reaction. REGN did well but got punished with the general market. 

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