By Nishant Mohan and Stephen Nakrosis

Celgene Corp. (CELG) and Acceleron Pharma Inc. (XLRN) reported positive results from a trial of their drug Luspatercept, a drug to treat chronic anemia, beta-thalassemia and myelofibrosis.

The results announced Monday, the companies said, reflect testing on beta-thalassemia patients who are dependent on blood transfusions. Patients showed at least a one-third reduction in dependence on transfusions, the companies said.

The companies also said "the drug achieved primary and all key secondary endpoints in phase III 'BELIEVE' study in adults with transfusion-dependent beta-thalassemia and all key secondary endpoints in phase III 'BELIEVE' study in adults with transfusion-dependent beta-thalassemia."

The companies plan to submit regulatory applications for Luspatercept in the U.S. and Europe in the first half of 2019.

Shares of Celgene were up 0.8%, to $84.55, in after-hours trading Monday after closing at $83.85. Shares of Acceleron closed at $47.40 and were up 11%, to $52.50, after hours.

Write to Nishant Mohan at nishant.mohan@wsj.com and Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 09, 2018 18:21 ET (22:21 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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