Celgene says FDA panel won't review pomalidomide

SUMMIT, N.J. -- Celgene Corp. said Wednesday that a Food and Drug Administration panel will not review its multiple myeloma drug pomalidomide in November.

Celgene said in September that the FDA's cancer drug advisory committee would discuss the drug at a meeting on Nov. 8. The company said Wednesday that the meeting won't take place.

The FDA is reviewing pomalidomide as a treatment for multiple myeloma, a cancer of the blood, that has recurred after treatment or not responded to treatment. The agency is scheduled to complete its review and make a ruling by Feb. 10.

Shares of Celgene rose 57 cents to close at $78.99.