CELGENE CORP /DE/
8-K, 1995-08-14
INDUSTRIAL ORGANIC CHEMICALS
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

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                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                        SECURITIES EXCHANGE ACT OF 1934



             August 7, 1995                                   0-16132
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 Date of Report (Date of earliest event reported)      Commission File Number



                              CELGENE CORPORATION
             (Exact name of registrant as specified in its charter)



                  Delaware                                   22-2711928
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(State or other jurisdiction of incorporation or           (I.R.S. Employer
               organization)                            Identification Number)
                  
           
                                             


                              7 Powder Horn Drive
                            Warren, New Jersey 07059
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              (Address of Principal Executive Offices) (Zip Code)


                                 (908) 271-1001
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              (Registrant's telephone number, including area code)


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Item 5.           Other Events.

                  On August 7, 1995, Celgene  Corporation (the "Company") issued
a press release announcing that it had completed a $12 million private placement
of convertible debentures. The press release is filed as Exhibit 1 hereto and is
hereby incorporated by reference.

Item 7.      Financial Statements, Pro Forma Financial Information and Exhibits.

        (a)  not applicable

        (b)  not applicable

        (c)  Exhibits

        (99) Press Release, dated August 7, 1995.



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                                   SIGNATURES


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Date: August 14, 1995                       CELGENE CORPORATION



                                            By:   /s/ Richard G. Wright
                                                -------------------------------
                                            Name:   Richard G. Wright
                                            Title:  Chairman of the Board and
                                                       Chief Executive Officer

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                                 EXHIBIT INDEX

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  Exhibit                   Description                                Page
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<S>          <C>                                                   <C>
   (99)       Press Release, dated August 7, 1995.                       5
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                                                                      EXHIBIT 99

                     [LETTERHEAD OF CELGENE CORPORATION]

FOR IMMEDIATE RELEASE   Contact: Richard G. Wright       Thomas Redington
                                 Celgene Corporation     Redington, Inc.
                                 (908) 271-4119          (203) 222-7399
                                                         (212) 926-1733

                CELGENE COMPLETES $12 MILLION PRIVATE PLACEMENT

Warren, NJ August 7, 1995 - Celgene Corporation (NASDAQ: CELG) said it completed
a $12 million private placement of convertible debentures.

Celgene  officials said the proceeds will be used to fund Celgene's  preclinical
and clinical activities for its immunotherapeutics programs.

The proceeds put proforma cash and marketable  securities at $16.0 million as of
June 30, 1995.

Celgene said the convertible  debentures and the shares of common stock issuable
upon their  conversion have not been registered under the Securities Act of 1933
as amended  (the  "Act"),  and may not be  offered or sold in the United  States
absent  registration  under  the  Act  or  an  applicable   exemption  from  the
registration requirements of the Act.

The company is developing a family of immunotherapeutic  compounds for a  number
of serious disease states.

Synovir'TM'  (thalidomide),  Celgene's  lead  compound, is currently in clinical
trials for cachexia in AIDS and cancer, rheumatoid arthritis and HIV inhibition.
Additionally,   Celgene's   New  Chemical  Entities  are   entering  preclinical
evaluation  for graft vs. host  disease and may also be useful for  inflammatory
bowel  disease  and  other  autoimmune  diseases  such  as  lupus  and  multiple
sclerosis.

Celgene's  chiral  business  unit supplies  value-added  drug  intermediates  to
leading US and international pharmaceutical companies.

Celgene Corporation,  headquartered in Warren, NJ, uses proprietary expertise in
small molecule chemistry to serve the pharmaceutical and allied industries.
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