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Celldex Says Skin Cancer Drug Meets Study goal

From Associated Press (June 7, 2010)

NEW YORK -- Drug developer Celldex Therapeutics Inc. said Monday its potential advanced skin cancer treatment met key midstage study goals.

The results sent shares lower in morning trading, though. The stock slipped 86 cents, or 13.1 percent, to $5.70. It has traded between $4.16 and $11.82 over the last 52 weeks.

The drug candidate, CDX-011, prompted an overall response rate of 15 percent in the 34-patient study. The drug was administered at a "predefined dose" once every three weeks. The company said the results warrant further development of the drug.

Meanwhile, the company said a more frequent dosing schedule of weekly or twice every three weeks yielded 20 percent and 33 percent response rates, respectively.

The results were reported at the annual meeting of the American Society of Clinical Oncologists in Chicago.

Celldex is based in Needham, Mass.


Posted: June 2010