diffucult to interpret as long as we have no further news. I do not think it was directly releated to the efficacy of Rindopepimut.
When Pfizer made the deal with Celldex I think they saw a huge potential with respect to CDX-110 and the EDFRvIII target because this is overexpressed in many cancer types. As a result they agreed about $390 million deal with Pfizer.
Then Pfizer acquired Wyeth what brougt in a lot of promising drugs.
Why keeping Celldex and spend $390m if other EGFRvIII targets can be developed internally and the potential of CDX-110 for GBM is limited, at least for a big pharma like Pfizer.
In this regard I think the statement that CDX-110 is no longer of strategic importance is reasonable.
I do not think this is bad news for Celldex.
They got 40m from Pfizer and now have a drug that is ready to enter phase III and all rights are now with Celldex.
The reaction of the market is surprising if you consider the full pipeline of Celldex.
At current prices Celldex is even more a buy-out target.
I will not sell any shares.
Have a nice weekend
Always use ambiguous information to mispresent the fact about CLDX. Very interesting figure. Wonder what is his/her motivation.
Almost every point he raised so far is without base, yet he pretends to be an expert here. If anyone wants to know his knowledge about CLDX or biotech in general, just go check his laughable answers to jq's questions, which are indeed sharp questions.
Not long, not short, why are you here? Shareholder_boar?
After all the work and money PFE had put into CDX-110, it's getting closer to the finish line.
Longs hold onto your shares for the final dash. Reward is far exceeding the risk now.
CDX-110 is worth at least 200m at the very moment PFE returned it.
From ASCO2010 abstract, both Avastin and Cligitide had worse side effects and less efficacy compared to CDX-110. So I guess we would have to wait out to see what CDX-110 eventually will bring for CLDX. But a good drug is hard to come by. CLDX gets full right back this truly is not a bad thing for them.
In addition, it's a mistake to assume Avastin would automatically succeed in 1st liner GBM when OS survival is endpoint. Recent failure in 1st line MBC and other earlier line cancers confirmed suspicion that Avastin might be slowing/shrinking tumor growth initially, but tumor grows back more aggressively later on, thus no survival advantage overall. Avastin did better in later line therapies than earlier ones.
They have jumped ahead of 110 development timeline long time ago. In the case of cilengitide, the phase III started when PFE signed partnership with CLDX. In the case of Avastin, the phase III started when CLDX transfered 110 to PFE officially in 2009.
These two do not have that great efficacy in 1st line setting.
PFE decisions are not base on any common sense.
They built a research campus in Ann Arbor for hundreds of millions and when it just opened for business...they left !
The U of M is now moving in:
The building in the photo is just a small portion of the campus they have left.
There is a reason why PFE stock looks like THIS:
I believe that photo shows the old Parke-Davis headquarters which was part of the Warner-Lambert acquisition by PFE. Spent many hours there...negotiating contracts and participating in meetings for various protocols we were managing. The good old days...
Don't try to be a hero you stupid. get out while you can. If you know the symbol AVAN then you should sell now. If you don't believe me ask UNA and she will tell you the truth of CLDX.
Good luck! Good luck Monday
you are one of the delusional folks i mention...PFIZER is one of the biggest pharma's in the WORLD...this was the only thing keeping this stock above 4 and off the otcbb
wake up...PFE knows more than YOU or I know about their pipeline. PFE broke off the relationship
find a stock that doesn't have problems like this and you might be able to recover your losses