On Monday, shares of biopharmaceutical company Celgene Corp. tumbled, and closed the day down 3.31% to $118.36 per share after one of its partners, Acceleron Pharma , reported disappointing first-quarter results. XLRN stock closed down 12.79% to $27.69 per share.

Celgene and Acceleron are currently developing together luspatercept, a treatment for the chronic, sometimes debilitating anemias associated with myelodyspastic syndromes (MDS), a form of leukemia; the companies recently unveiled strong Phase 2 results for the drug, with plans to initiate a Phase 3 trial in early 2018.

Celgene and Acceleron are also working on a treatment dubbed sotatercept, which is being tested in multiple Phase 2 trials for myelofibrosis, a serious bone marrow disorder that disruptsyour body's normal production of blood cells. 

Acceleron reported a first-quarter loss of 66 cents per share, missing the Zacks Consensus Estimate of a loss of 58 cents per share and falling a whopping 607% year-over-year. Revenues came in at $3.7 million, beating our consensus estimate of $3.2 million but declining 80% from the prior year period.

Both Celgene and Acceleron sit at a #3 (Hold) on the Zacks Rank. Year-to-date, shares of CELG have gained 5.85%, while XLRN stock is up over 24%.

Celgene Corporation Price, Consensus and EPS Surprise

Celgene Corporation Price, Consensus and EPS Surprise | Celgene Corporation Quote

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