Celldex Therapeutics, Inc. (NASDAQ:CLDX) announced completion of enrollment in a phase IIb study — METRIC — evaluating lead pipeline candidate glembatumumab vedotin for treating patients with metastatic triple negative breast cancers.
Shares of Celldex have underperformed the industry year to date. The stock has massively plunged 34.4% versus the industry’s 6.9% gain during the period.
METRIC is a randomized phase IIb study which enrolled a total of 327 patients with the given indication. Patients in this trial are randomized 2 to 1 to either glembatumumab vedotin or to Roche Holding (SIX:ROG) AG’s (OTC:RHHBY) breast cancer drug, Xeloda (capecitabine).
The primary endpoint of the study is progression-free survival (PFS). Top-line data from the study is expected in second-quarter 2018.
We remind investors that another phase II study on glembatumumab vedotin is currently underway on patients with metastatic melanoma as a single agent. Data from the study was presented in June, at the annual meeting of the American Society of Clinical Oncology (ASCO).
Glembatumumab vedotin performed well in the single agent setting with 11% response rate, a 52% disease control rate and a median duration of response of six months in patients, having failed three or four prior lines of therapy. The study also includes two new cohorts, a glembatumumab plus varlilumab arm and a glembatumumab plus checkpoint inhibitor arm, including either Bristol-Myers Squibb Company’s (NYSE:BMY) Opdivo or Merck & Co, Inc.’s (NYSE:MRK) Keytruda.
Besides glembatumumab vedotin, Celldex’s pipeline comprises another important candidate, varlilumab. It is being evaluated in several phase I/II combination studies across multiple types of cancer.
Celldex Therapeutics, Inc. Price
Celldex Therapeutics, Inc. Price | Celldex Therapeutics, Inc. Quote
Zacks Rank
Celldex currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.
Roche Holding AG (RHHBY): Free Stock Analysis Report
Bristol-Myers Squibb Company (BMY): Free Stock Analysis Report
Merck & Company, Inc. (MRK): Free Stock Analysis Report
Celldex Therapeutics, Inc. (CLDX): Free Stock Analysis Report
Original post
Zacks Investment Research