At last check on Friday, Celldex Therapeutics Inc. (CLDX) shares were up 35.39% to $43.88 after hours. CLDX stock closed Friday’s trading session at $32.41 up 4.41%. Volume on CLDX stock rose to 0.61 million shares, more than the average daily volume of 0.57 million shares over the past 50 days.
In the last 12 months, shares of CLDX have risen 161.16%, but have moved down -5.87% in the past week. CLDX stock gained 56.49% in the last three months, while it lost 85.31% in the last six months. The current market value of CLDX is $1.23 billion, and the stock has 39.61 million outstanding shares. Following the presentation of positive results from one of its studies at EAACI 2021, CLDX stock shot up in extended trade.
What did CLDX present?
Celldex is a cutting-edge biotechnology company focused on developing bispecific and monoclonal antibodies to treat devastating diseases currently for which no effective treatment exists. With its antibody-based therapeutics, CLDX aims to treat inflammatory diseases and many forms of cancer by directly altering human immune systems and/or critical pathways.
On Friday, Celldex announced updated results from its ongoing Phase 1b clinical study of CDX-0159.
- It was conducted in patients with antihistamine-refractory cold urticaria and symptomatic dermographism, which are chronic inducible urticaria conditions.
- Diseases of this type can have significant effects on patients, as they are frequently severe and debilitating.
- CLDX’s humanized monoclonal antibody, CDX-0159, specifically binds and inhibits the tyrosine kinase KIT receptor with high specificity.
- After receiving a single full dose of CDX-0159, all 19/19 or 100% patients who received a provocation test showed a clinical response.
- CLDX’s study showed that 18 out of 19 patients or 95% had a complete response and only one out of 19 showed a marked partial response.
- In addition, CLDX observed that responses were rapid, profound, and durable, as well as correlated with a depletion of mast cells in the skin.
- The CDX-0159 showed a generally favorable reaction rate at CLDX’s study.
- During the 2021 Annual Conference of the European Academy of Allergy and Clinical Immunology (EAACI) , Dr. Marcus Maurer, Professor of Dermatology and Allergy at Charité – Universitätsmedizin, presented this study.
What CLDX plans to do next:
CLDX achieved 95% success rate when there are no previous documented cases in this patient population where such high rates of complete response and rapid onset were obtained. The impressive early data from CLDX study indicate that CDX-0159 can safely affect other mast cell-related diseases, which is an important aspect for the future application of this therapy. Celldex (CLDX) is encouraged by these preliminary findings, and has set its sights on expanding the CDX-0159 program into prurigo nodularis later this year, as well as other indications involving mast cells in the future.
