Celgene shares slide after Revlimid use expansion curbed

Shares of Celgene Corp. fell in Monday's extended session after the drug maker decided not the pursue approval for use of Revlimid, a lymphoma drug, in maintenance therapy following a late stage study. The clinical study had evaluated the impact of Revlimid on survival rates along with a placebo. "The interim analysis of overall survival, a key secondary endpoint, showed no benefit in the Revlimid arm," said Celgene in a statement. Celgene shed 2.4% after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.