Why Is Inflammation Disease-Focused Celldex Therapeutics Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Celldex Therapeutics Inc (NASDAQ:CLDX) released positive topline results from its Phase 2 trial of barzolvolimab in patients with moderate to severe chronic spontaneous urticaria (CSU). The drug achieved the primary efficacy endpoint and demonstrated rapid, durable, and clinically meaningful responses. The treatment was well tolerated with a favorable safety profile. Following the news, CLDX shares are up 25.00% at $32.48.
November 06, 2023 | 3:27 pm
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POSITIVE IMPACT
Positive Phase 2 trial results for Celldex's barzolvolimab have led to a 25% increase in the company's stock price. The drug showed efficacy and a good safety profile in treating CSU.
The positive results from the Phase 2 trial of barzolvolimab indicate that the drug is effective and safe for treating CSU. This is a significant development for Celldex, as it validates the company's research and development efforts and brings it one step closer to potentially bringing a new treatment to market. This news has been positively received by the market, as evidenced by the 25% increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100