Celldex Therapeutics, Inc. (NASDAQ: CLDX)
Celldex Therapeutics is having a great day in the market today after the announcement of mature survival data with regard to the company’s experimental drug RINTEGA. Today, we’ll talk about the details of the results, how the market reacted to the news, and what we can expect to see from CLDX moving forward.
CLDX Presents RINTEGA Data
RINTEGA is an experimental treatment designed to increase long-term survival rates in patients with recurrent glioblastoma that express EGFRvlll mutations. These patients typically have a worse long-term survival rate than other patients within the glioblastoma population. In the statement today, CLDX announced that their primary endpoint with regard to the Phase 2 study of RINTEGA has been met. The study has shown that the treatment leads to progression free survival at 6 months. In a statement, Thomas Davis, M.D., Executive Vice President and Chief Medical Officer at CLDX had the following statement to offer:
“Patients with glioblastoma – especially those who are EGFRvlll-positive – face a staggering diagnosis, and in the face of this news, making the decision to participate in a clinical trial – especially a randomized study – is never an easy decision…. To this end, we are extremely gratified on behalf of our ReACT patients, their families and physicians that RINTEGA continues to tell a very consistent, impressive story across multiple, clinically relevant endpoints including, most importantly, long-term survival. These results replicate what we have seen in earlier RINTEGA studies conducted in newly-diagnosed patients, supporting our belief that RINTEGA will be an important treatment option for all patients with EGFRvlll-positive glioblastoma.”
How The Market Reacted To The News
As we’ve come to expect any time we see positive news from a biotechnology company with regard to an experimental treatment, we tend to see positive reactions in the market. That’s exactly what we’re seeing today. Currently (10:02), CLDX is trading at $17.66 per share after a gain of 9.08% so far today.
What We Can Expect To See From CLDX Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from CLDX. First off, at this point, both the Phase 1 and the Phase 2 study of RINTEGA have gone incredibly well. Considering the data we’ve seen from the experimental treatment up to this point, I’d have to imagine that the Phase 3 study is likely to go off without a hitch. Considering this, I believe that we have several positive catalysts on the way here. First and foremost, when the Phase 3 study is initiated, we can expect to see overwhelmingly positive movement in the market. Following the initiation, we tend to see updates throughout the study, each one will likely prove to be a catalyst. Also, considering the strong results from Phase 1 and Phase 2, I’m expecting for Phase 3 to produce positive results as well, which will push the stock further before FDA submission and approval sends it soaring. Overall, I’ve got nothing negative to say here. Keep your eyes on this stock, it’s going to be a great gainer!
What Do You Think?
Where do you think CLDX is headed and why? Let us know your opinion in the comments below!
[Image Courtesy of Celldex Therapeutics]