Wednesday, July 8, 2015

Seeking Alpha: Celldex Therapeutics Still Looks Undervalued With Multiple Clinical Shots On Goal

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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