Read How Cantor Views Celldex Therapeutics' Barzolvolimab Data

• Celldex Therapeutics Inc's (NASDAQ: CLDX) shares closed almost 16% down on Friday after releasing Phase 1b study data of barzolvolimab.

• Cantor says the main reason for stock being down is the four patient adverse events on the generally transient, asymptomatic, and mild neutrophil decreases, noting a single Grade 3 case.

  • One patient had values that never got below 1,500 and was considered Grade 1 with the scale used.

  • Two patients had levels dip below 1,500 at isolated time points and recovered above this level.

  • One patient dipped below 1,000 at two isolated time points and was above this subsequently.

• There was no pattern of further neutrophil decreases in these patients, and they returned to normal by the end of the study.

• Cantor says that while some investors viewed this as a concern, others did not, in light of the details behind these four individuals.

• According to some investors, the safety data addressed an overhang showing that chronic dosing does not further enhance KIT suppression but prolongs the effects.

• "On efficacy, we have not received much pushback on these data. The sentiment suggests that the company achieved at least the minimum bar of investor expectations," Cantor writes.

• Cantor has an Overweight rating on the shares with a price target of $59.00.

• Price Action: CLDX shares are up 8.63% at $24.66 during the market session on the last check Tuesday.

Latest Ratings for CLDX

Date	Firm	Action	From	To
Sep 2021	Jefferies	Initiates Coverage On		Buy
Sep 2021	HC Wainwright & Co.	Maintains		Buy
Sep 2021	SVB Leerink	Initiates Coverage On		Outperform

View More Analyst Ratings for CLDX

View the Latest Analyst Ratings

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