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CLDX

Celldex

$0.36

-0.0169 (-4.45%)

13:04
11/11/18
11/11
13:04
11/11/18
13:04

Celldex presents emerging MerTK antibody program

Celldex Therapeutics presented data from the company's MerTK antibody program in a poster session today at the Society for Immunotherapy of Cancer's 33rd Annual Meeting. MerTK's expression in innate immune cells is believed to negatively regulate immune responses and genetic removal of MerTK renders mice resistant to some tumors. As detailed in the presentation, Celldex developed a large panel of antibodies to MerTK and investigated their ability to enhance activation of innate immune cells. Two lead candidate human anti-MerTK antibodies were then selected based on their potent induction of cytokines from human macrophages, dendritic cells, and monocytes. Treatment of dendritic cells with the MerTK antibodies led to production of a broad array of pro-inflammatory cytokines and chemokines. Isolated peripheral blood monocytes were found to express high levels of MerTK and were similarly activated by the MerTK antibodies. Emerging proof of concept data was established in preclinical models. Using a surrogate anti-mouse MerTK antibody, similar increases in the levels of cytokines were observed in the blood of mice shortly after treatment with the antibody. The anti-mouse MerTK antibody led to increased survival when dosed alone or in combination with a PD-1 inhibitor in a colon cancer model. To test the lead clinical candidates, which bind to human and not mouse MerTK, Celldex generated human MerTK transgenic mice that were shown to appropriately express and regulate human MerTK on macrophages. This will now allow testing of the anti-human MerTK mAbs in inflammation and tumor models. Collectively, the data support that anti-MerTK mAbs can modulate MerTK activity consistent with its role as a negative immune regulator and provide an exciting new approach to enhance innate immune function in cancer. Celldex is currently completing the preclinical studies for selection of the lead candidate to advance into development activities. These studies include investigating the antitumor effect of combinations with Celldex's immunotherapy product candidates.

CLDX Celldex
$0.36

-0.0169 (-4.45%)

04/16/18
HCWC
04/16/18
NO CHANGE
Target $2.5
HCWC
Buy
Celldex price target lowered to $2.50 from $10 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis lowered his price target for Celldex Therapeutics to $2.50 after the company's Phase 2b study of glembatumumab vedotin compared to Xeloda in patients with metastatic triple-negative breast cancer failed to meet its primary endpoint. The analyst, while admitting he was wrong, is not downgrading the shares. He believes the contribution from varlilumab alone provides value relative to where the shares are trading today. Varlilumab is now officially the lead asset at Celldex, Pantginis tells investors in a research note. He keeps a Buy rating on Celldex. The stock in morning trading is down 60% to 86c.
04/16/18
COWN
04/16/18
DOWNGRADE
COWN
Market Perform
Celldex downgraded to Market Perform from Outperform at Cowen
Cowen analyst Boris Peaker downgraded Celldex to Market Perform from Outperform after the company's Phase 2b METRIC Study of glembatumumab vedotin compared to Xeloda in patients with metastatic triple-negative breast cancers that overexpress gpNMB failed to meet its primary endpoint.
04/17/18
CANT
04/17/18
DOWNGRADE
CANT
Neutral
Celldex downgraded to Neutral from Overweight at Cantor Fitzgerald
04/17/18
CANT
04/17/18
DOWNGRADE
Target $3
CANT
Neutral
Celldex downgraded to Neutral with $3 target at Cantor Fitzgerald
Cantor Fitzgerald analyst Mara Goldstein downgraded Celldex Therapeutics to Neutral from Overweight and cut her price target for the shares to $3 from $9. The analyst ascribed $6 per share in value to glembatumumab vedotin. With the failure of the Metric study and the discontinuation of the program in melanoma, she thinks the rest of the company's pipeline is worth $3 per share. Goldstein thinks the shares are "going to struggle" until there are data from one of the company's four remaining programs.

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