CLDX News & Events

Canaccord analyst Edward Nash says AbbVie's (ABBV) reported $10.9B takeover of Apogee Therapeutics (APGE) equates to roughly $144 per share. Apogee in premarket trading is up 50%, or $45.23, to $135.61. If an all-cash deal at $10.9B were to be announced and consummated, this would be a "huge win" for Apogee shareholders and for inflammation and immunology companies in general, the analyst tells investors in a research note. Canaccord sees Kymera Therapeutics (KYMR), Evommune (EVMN), Connect Biopharma (CNTB), Celldex (CLDX), and Nektar (NKTR) benefitting from a takeover of Apogee Therapeutics. The firm has a Buy rating on Apogee with a $130 price target.

Celldex presented positive results from the Phase 1 healthy participant study of CDX-622 at the European Academy of Allergy and Clinical Immunology, EAACI, Annual Meeting in Istanbul, Turkiye. Data demonstrated that CDX-622 induced rapid, durable, dose-dependent reductions in serum tryptase, indicative of mast cell depletion, and was well-tolerated at all dose levels. Building on Celldex's leadership in mast cell science, the data also demonstrated that neutralizing soluble stem cell factor enables the potential for meaningful mast cell inhibition and depletion without impacting other KIT-dependent functions. CDX-622 is currently being studied in a Phase 1b proof of mechanism study in mild to moderate asthma to assess the impact of dual neutralization of SCF and TSLP.

Celldex announced the presentation of long-term results from the Phase 2 study of barzolvolimab in a flash talk session at the European Academy of Allergy and Clinical Immunology, EAACI, Annual Meeting in Istanbul, Turkiye. The data presented demonstrated that barzolvolimab treatment results in "rapid, significant, and durable improvements" in angioedema in patients with chronic spontaneous urticaria refractory to antihistamines. These results were sustained off-treatment, seven months after completion of barzolvolimab dosing. The data continue to demonstrate barzolvolimab's potential to shift the goal of CSU treatment from symptom control to disease modification and further support the ongoing Phase 3 trials of barzolvolimab in CSU.