Immunotherapy biotech Celldex Therapeutics (NASDAQ:CLDX)
has continued to do well in a hot market for biotech, and an especially
hot market for oncology immunotherapy companies. The shares are up
another third or so over the last six months, as the company has
continued to post encouragingly strong data from its studies of Rintega
in glioblastoma multiforme (or GBM) and sign up partners for its t-cell
co-stimulator varlilumab.
Rintega now represents about one-third
of my estimated value for Celldex, with gemba making up closer to half.
Varlilumab contributes relatively little today, but that could change
significantly over the next year as early data from combo studies are
expected. Combination therapy is likely to be the defining
characteristic of immuno-oncology and with a broad (albeit early-stage)
pipeline of IO assets, I believe Celldex is attractively positioned as a
go-it-alone partner of choice or an M&A target for a larger
pharma/biotech company that is lacking in homegrown IO candidates.
Read the full article here:
Celldex Therapeutics Still Looks Undervalued With Multiple Clinical Shots On Goal
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