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Acceleron Pharma Inc. (XLRN) Has Broken Out To A New High On Study Results

Acceleron Pharma Inc. (XLRN) and Celgene (CELG) announced after the bell Thursday that the Phase 3 study of Luspatercept met its primary and key secondary endpoints.

Acceleron Pharma gapped open higher Friday morning and has continued to rise in early trade. Shares are now up 14.01 at $47.99 on the highest volume in 9 months. The stock has risen past resistance and has set a new high for the year.

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