Celldex Therapeutics, Inc. (CLDX - Free Report) presented pre-clinical data on a new candidate, CDX-1140, a fully human antibody that targets CD40 and demonstrated potent agonist activity. The data was presented at the Society for Immunotherapy of Cancer Annual Meeting. Importantly, the company said that its plans to start clinical development of the drug next year.
The company’s shares were up almost 14% on the news.
Data demonstrated that CDX-1140 binds to CD40 with high affinity and does not block CD40 ligand binding. The candidate has an unmodified IgG2 backbone and demonstrates potent agonist activity independent of Fc receptor interactions. It also showed direct anti-tumor activity in immune-deficient mice with human lymphomas.
Celldex expects CDX-1140 to be an important addition to the company’s growing immunotherapy pipeline. The company is also conducting manufacturing and Investigational New Drug application-enabling studies to support phase I dose-escalation trials.
Celldex currently has a Zacks Rank #2 (Buy).
CELLDEX THERAPT Price
Other Stocks to Consider
A few other favorably placed stocks in the healthcare sector include Incyte Corporation (INCY - Free Report) , Anika Therapeutics (ANIK - Free Report) and Exelixis, Inc. (EXEL - Free Report) . All the three stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Incyte’s earnings estimates increased from 20 cents to 62 cents for 2016 and from $1.42 to $1.66 for 2017 over the last 60 days. The company has posted a positive average beat of 431.43% over the last four quarters.
Anika’s earnings estimates increased from $1.96 to $2.06 for 2016 and from $2.03 to $2.09 for 2017 over the last 60 days. The company has posted a positive surprise in all of the four trailing quarters with an average beat of 33.14%. Its share price has gained 16.8% year to date.
Exelixis’ loss estimates narrowed from 71 cents to 51 cents for 2016 and from a loss of 16 cents to earnings of 4 cents for 2017 over the last 60 days. The company has posted a positive surprise thrice in the four trailing quarters with an average beat of 38.52%. Its share price has skyrocketed above 150% year to date.
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