Drumbeat of bad news continues at OncoMed as Celgene dumps option on one of its last pipeline efforts

Five years ago, OncoMed $OMED looked like one of the hottest oncology companies in the US, basking in the glow of a multibillion-dollar deal with the go-go team at Celgene. 

Then its lead drugs foundered in a series of clinical disasters last year that presaged GlaxoSmithKline’s exit from their partnership.