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Celldex Therapeutics, Inc.

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Celldex’s efforts to build its immuno-oncology pipeline are impressive. Its lead pipeline candidate, glembatumumab vedotin, is in mid-stage development for different types of cancer.  Apart from glembatumumab vedotin, Celldex has several promising candidates in its pipeline, including varlilumab. Meanwhile, the recent Kolltan acquisition adds some interesting candidates to the company’s pipeline. With no approved product, Celldex depends entirely on product development and licensing agreements, contracts and grants for revenues. We are also concerned about the early- to mid-stage nature of its pipeline. Moreover, Celldex is no stranger to pipeline setbacks and any further setbacks may negatively impact the stock. Also, shares of the company have underperformed the industry year to date. Estimates have remained stable ahead of the Q3 earnings results. The company has a positive record of earnings surprises in recent quarters.

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