Celldex Shares Drop on Drug Trial Safety Concerns
Celldex shares fell nearly 15 percent despite its experimental skin drug meeting main goals in late stage trials. Investors reacted to two confirmed cases of probable anaphylaxis. The company plans to seek US approval in 2027.
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CELLDEX THERAPEUTICS INC shares fell 15% on Tuesday afternoon after two cases of anaphylaxis clouded positive late-stage trial results for its skin drug. The drop came despite the experimental treatment meeting its primary endpoints in chronic spontaneous urticaria. Investors focused heavily on the safety signals as the company cleared a hurdle toward a U.S. regulatory filing.
