Thursday, January 6, 2011

Celldex Therapeutics (NASDAQ:CLDX) Rindopepimut in GBM Looks Promising

Celldex Therapeutics (NASDAQ:CLDX) is expected sometime in the early part of 2011 to finalize a key study for rindopepimut in GBM, which could lead to an SPA.

Needham said, "Looking into 2011, the Company expects to meet with the FDA in early 2011 to finalize a pivotal study for rindopepimut in GBM, which may lead to a SPA, and plans to initiate an international, randomized, placebo controlled Phase 3 trial in 2H11. We believe that rindopepimut has demonstrated consistent efficacy in GBM in three Phase 2 trials and has built a compelling database to support the pivotal trial. With the return of the rights of rindopepimut from Pfizer (N/R), we believe the program may accelerate, as Celldex is fully committed to move rindopepimut forward expediently."

Needham & Company maintains a "Buy" rating on Celldex Therapeutics, which closed Wednesday at $4.18, up $0.04, or 0.97 percent.

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