Traders make long-term bet on Celgene
Traders are making a long-term bet Tuesday on shares of Celegene (CELG). So far today, 7,281 contracts of the June 2019 call have changed hands, against open interest of 257 contracts. Pricing in today’s trades has all been in the high half of the bid-ask spread, indicating that these new contracts were initiated from the buy side.
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About Celgene Corporation
Celgene is a biopharmaceutical firm that discovers, develops, and markets therapeutics for the treatment of cancer and immunological diseases. Celgene markets Thalomid and Pomalyst to treat multiple myeloma and Revlimid, a less toxic thalidomide derivative, to treat myelodysplastic syndromes, multiple myeloma, and mantle cell lymphoma. Acquisitions have brought MDS drug Vidaza, T-cell lymphoma drug Istodax, and cancer drug Abraxane. The firm's first immunology drug, Otezla, was approved in the U.S. in 2014. Recent acquisitions of Juno and Impact bring additional drugs for Celgene's blood cancer pipeline.