Celldex Therapeutics (CLDX) Wider-than-Expected Loss in Q4 - Tale of the Tape
Celldex Therapeutics, Inc. (CLDX), a clinical-stage company, primarily focuses on the development of candidates in oncology indications. This Hampton, New Jersey based company has candidates like glembatumumab vedotin, rindopepimut and varlilumab being developed for different oncology indications.
Given that the company does not have any revenue-generating products in its portfolio, investor focus will remain on pipeline and regulatory updates. The company however does record revenues from product development and licensing agreements as well as from contracts and grants.
Celldex’s lead candidate, glembatumumab vedotin, is being developed for the treatment of triple negative breast cancer in a pivotal phase IIb study. During the fourth quarter the company amended the protocol for the study based on feedback from investigators conducting the study. Celldex also has rindopepimut in its pipeline being developed for the treatment of EGFRvIII positive glioblastoma in a phase III study.
Celldex recorded positive earnings surprises of 6.06% in the last quarter. The company has delivered positive earnings surprises in two of the last four quarters. Estimate revisions are, however, mixed with analysts upping their estimates for 2014 and lowering the same for 2015.
Currently, Celldex has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Celldex posted a wider-than-expected loss. Our consensus called for a loss of 35 cents per share, and the company reported a loss of 36 cents per share (these figures take out stock option expenses).
Revenue: Revenues surpassed year-ago figures. Celldex posted revenues of $1.5 million, compared to $0.6 million in the year-ago quarter.
Key Stats: Celldex is expecting to complete the enrollment process for the pivotal phase IIb study on glembatumumab vedotin in 2016. A phase II study on the candidate in squamous cell lung cancer indication is expected to start in 2015. Also results from the first interim analysis from the phase III study on rindopepimut are expected in mid-2015.
Stock Price: Shares shot up (16.6%) significantly in pre-market trading following the release.
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