Celldex's Novel CDX-622 Bispecific Antibody Shows Positive Phase 1 Results
Summary
Celldex announced positive first-in-human Phase 1 results for its novel bispecific antibody, CDX-622, at the EAACI Annual Meeting. The data demonstrated rapid, durable, and dose-dependent reductions in serum tryptase, indicative of mast cell depletion, with the drug being well-tolerated. This validates a novel mechanism of action targeting soluble SCF to selectively inhibit mast cell signaling, which could be groundbreaking for inflammatory diseases. The positive early-stage data strengthens Celldex's pipeline and builds on its mast cell science leadership, with further studies planned for asthma, allergic rhinitis, and food allergy.
At the time of this announcement, CLDX was trading at $31.27 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $19.52 to $35.79. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.