Why Celldex Therapeutics Stock Reversed Course in November

Shares of the struggling small-cap biotech Celldex Therapeutics (NASDAQ: CLDX) finally showed some signs of life in November. Specifically, the biotech's stock rose by a healthy 27.6% last month, according to data from S&P Global Market Intelligence. Even so, the drugmaker's shares are still down by 14.4% year to date.

Celldex's stock got a boost last month from its third-quarter earnings release, where the company announced the initiation of two new clinical trials to assess CDX-3379 in recurrent head and neck squamous cell cancer and CDX-1140 in solid tumors. The company also restated that its lead clinical candidate glembatumumab vedotin -- or glemba for short -- remains on track to produce top-line data for its ongoing mid-stage study in triple negative breast cancer (TNBC) sometime in the second-quarter of 2018.

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Source: Fool.com