Why Celldex Therapeutics, Inc. Stock Rose 14.5% in May
What: Shares of Celldex Therapeutics, a clinical-stage biotech developing targeted cancer therapies, gained 14.5% last month, according to data from S&P Global Market Intelligence
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So what:When Celldex's first drug to enter phase 3, Rintega, failed to significantly outperform the treatment received by a control group of patients in a deadly form of brain cancer, Celldex stock nearly smacked pavement
I've been banging the table about this company's value proposition ever since, and it seems a handful of billionaires
Now what:At the American Society of Clinical Oncologists annual meeting last weekend, Celldex announced results from a 60-patient trial with two of its drugs, CDX1401 and CDX301.
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Image source: Celldex Therapeutics.
The first, CDX-1401 is a two-sided protein that binds to targets found on the surface of various tumor cells, and the other side binds to a special type of blood cells that begins an immune attack. During the trial, 22 of 30 patients treated with 1401 alone showed the sort of immune response the drug is supposed to incite.
The other drug,CDX-301, binds to stem cells and encourages them to become the sort of immune blood cell that would eventually recognize CDX-1401 and trigger an immune response. During the same trial,all 30 patients pre-treated with 301 showed the response 1401 is supposed incite.
While these drugs are in early clinical stages, Celldex hastwo more
The article Why Celldex Therapeutics, Inc. Stock Rose 14.5% in May
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