U.S. markets closed
  • S&P 500

    3,638.35
    +8.70 (+0.24%)
     
  • Dow 30

    29,910.37
    +37.90 (+0.13%)
     
  • Nasdaq

    12,205.85
    +111.44 (+0.92%)
     
  • Russell 2000

    1,855.27
    +10.25 (+0.56%)
     
  • Crude Oil

    45.53
    -0.18 (-0.39%)
     
  • Gold

    1,788.10
    -23.10 (-1.28%)
     
  • Silver

    22.64
    -0.81 (-3.44%)
     
  • EUR/USD

    1.1970
    +0.0057 (+0.48%)
     
  • 10-Yr Bond

    0.8420
    -0.0360 (-4.10%)
     
  • GBP/USD

    1.3314
    -0.0042 (-0.32%)
     
  • USD/JPY

    104.0850
    -0.1650 (-0.16%)
     
  • BTC-USD

    17,716.80
    +531.45 (+3.09%)
     
  • CMC Crypto 200

    333.27
    -4.23 (-1.25%)
     
  • FTSE 100

    6,367.58
    +4.65 (+0.07%)
     
  • Nikkei 225

    26,644.71
    +107.40 (+0.40%)
     

Celldex Initiates Early-Stage Antibody Study for Skin Disorder

Zacks Equity Research
·3 min read

Celldex Therapeutics, Inc. CLDX announced that it has initiated a phase Ib study to evaluate its monoclonal antibody candidate CDX-0159 in patients with chronic spontaneous urticaria (CSU), one of the most frequent skin diseases.

Shares of Celldex were up 3.2% in pre-market trading on Oct 14 following the above news. The stock has surged 669.1% so far this year compared with the industry’s increase of 2.6%. This significant increase in the share price was primarily owing to encouraging early-stage data on CDX-0159.

The early-stage study will evaluate the safety of multiple ascending doses of CDX-0159, administered intravenously as an add-on treatment to H1-antihistamines or either alone or in combination with H2-antihistamines and/or leukotriene receptor agonists.

The study will enroll patients in four different cohorts with CSU patients who remain symptomatic despite treatment with antihistamines. Data from the study is expected in the second half of 2021.

Notably, the company completed a phase Ia study evaluating CDX-0159 in healthy volunteers. Data from the study demonstrated a favorable safety profile for the candidate. CDX-0159 also achieved profound and durable reductions of plasma tryptase indicating a significant potential as a disease-modifying therapeutic for the mast-cell driven disorders.

The company also plans to initiate a phase Ia study within a few weeks to evaluate CDX-0159 in patients with chronic inducible urticaria.

Apart from CDX-0159, Celldex is developing a CD40 human agonist antibody CDX-1140. The candidate is being developed as a potential treatment of solid tumors and B cell lymphomas as a monotherapy or in combination with Celldex’s CDX-301 or Merck’s MRK Keytruda.

The company initiated an early-stage study earlier this year to evaluate its new bispecific product candidate CDX-527 for solid tumors.

However, the company discontinued development of its lead pipeline candidate CDX-3379 earlier this year due to discouraging clinical activity. It was being evaluated in a phase II study in combination with Eli Lilly’s LLY Erbitux in patients with head and neck cancer.

Celldex Therapeutics, Inc. Price

Celldex Therapeutics, Inc. Price
Celldex Therapeutics, Inc. Price

Celldex Therapeutics, Inc. price | Celldex Therapeutics, Inc. Quote

Zacks Rank and Stock to Consider

Celldex currently carries a Zacks Rank #3 (Hold).

Allena Pharmaceuticals, Inc. ALNA is a better-ranked stock from the biotech sector, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Allena’s loss per share estimates have narrowed from 98 cents to 92 cents for 2020 and from 93 cents to 84 cents over the past 60 days.

Have You Seen Zacks’ 2020 Election Stock Report?

The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.

The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.

Check out Zacks’ 2020 Election Stock Report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Merck Co., Inc. (MRK) : Free Stock Analysis Report
 
Eli Lilly and Company (LLY) : Free Stock Analysis Report
 
Celldex Therapeutics, Inc. (CLDX) : Free Stock Analysis Report
 
Allena Pharmaceuticals, Inc. (ALNA) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research