Why Celldex Therapeutics Blasted 13% Higher on Monday
Clinical-stage biotech Celldex Therapeutics (NASDAQ: CLDX) was a standout on the stock market Monday. The company's share price closed a sturdy 13% higher on the day, thanks to freshly published data from a clinical trial of a key pipeline drug. This rise was far steeper than the 0.2% bump posted by the bellwether S 500 index.
That morning, Celldex unveiled the results of a phase 2 study of barzolvolimab, a medication aimed at treating patients with moderate to severe chronic spontaneous urticaria (CSU) refractory to antihistamines.
The biotech reported that barzolvolimab achieved its primary efficacy endpoint in treating this form of urticaria (more commonly known as hives). It also achieved a statistically significant mean change from baseline to week 12 of the 208-participant trial when compared to a placebo.
Source Fool.com
Celldex Therapeutics Stock
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With a target price of 62 € there is a hugely positive potential of 92.55% for Celldex Therapeutics compared to the current price of 32.2 €.
