July 9, 2014 / 11:30 AM / 3 years ago

Celgene spondylitis drug misses main goal in late-stage study

July 9 (Reuters) - Celgene Corp said its experimental drug for the treatment of a type of arthritis that affects the spine failed to meet the main goal in a late-stage study, sending its shares down 3 percent premarket.

Patients suffering from ankylosing spondylitis who were treated with the drug, Otezla, failed to show statistically significant response compared to those on a placebo, the company said.

However, an independent data monitoring committee recommended that the study should continue unchanged. (Reporting By Penumudi Amrutha; Editing by Sriraj Kalluvila)

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