This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Celldex Screw-Up Nixes ASCO Data Slot

NEEDHAM, Mass. ( TheStreet) -- A clerical error has cost Celldex Therapeutics (CLDX - Get Report) the opportunity to present data on its breast cancer drug CDX-011 at the upcoming American Society of Clinical Oncology (ASCO) annual meeting.

This is hard to believe, but someone at Celldex clicked a wrong box on ASCO's online abstract submission form. As a result, ASCO rejected the CDX-011 abstract. Celldex appealed but ASCO refused to make an exception, the company says.


With its ASCO invite revoked, Celldex has decided to hold a webcast on May 23 at which topline results from the phase II study of CDX-011 in advanced breast cancer will be made public. Dr. Linda Vahdat of Weill Cornell Medical College and the principal investigator of the CDX-011 study will speak on the Celldex call. [She must be thrilled at the opportunity. Wouldn't you rather present important breast-cancer data on a company-organized webcast, rather than standing in front of hundreds of your oncology research peers at an ASCO session?]

Celldex shares are up 75% this year largely due to investors playing the run up into the anticipated ASCO presentation of the CDX-011 data. With CDX-011 data now coming sooner than expected, investors will have to adjust their Celldex trading strategy, including deciding whether to sell the stock once the study results are announced. (An early post-ASCO "sell the news.")

Celldex shares closed Monday at $4.56.

CDX-011 is a monoclonal antibody drug conjugate. The antibody portion targets cancer cells that express a protein known as GPNMB shown to correlate with poorer outcomes in breast cancer patients. When the CDX-011 antibody attaches to GPNMB-expressing tumor cells, it releases a toxic chemotherapy payload. This "drug conjugate" was licensed from Seattle Genetics (SGEN) and is the same one used in the newly approved lymphoma drug Adcetris.

The phase II "Emerge" study enrolled 124 patients with advanced breast cancer, randomizing them to treatment with CDX-011 or "investigator's choice" chemotherapy. During its May 23 webcast, Celldex is expected to release preliminary results, most notably response rate data and tumor progression data.

--Written by Adam Feuerstein in Boston.

>To contact the writer of this article, click here: Adam Feuerstein.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CLDX $4.00 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs