Wells Fargo reports that a Mayo Clinic study found that a combination of cyclophosphamide, or Cy, and a toll- like receptor agonist, or TLRa, "was effective at eradicating chemotherapy resistant breast, pancreas and colon cancers in mice." The firm adds that Mayo is now conducting a study of Cy and Celgene's TLR8 agonist, motollimod. The firm thinks that the reported data could represent a significant opportunity for motollimod, and it is more upbeat on the drug's outlook. The firm thinks that Celgene's immuno-oncology efforts may be underappreciated by investors, and it keeps an Outperform rating on the shares.