Celldex Therapeutics, Inc.’s (CLDX) innovative brain cancer, breast cancer and ultraorphan drugs have substantial commercial opportunities and are targeting highly unmet medical needs while reporting very strong data, says Boris Peaker, Executive Director and Senior Analyst at Oppenheimer & Co. Inc.
“Celldex has several innovative drugs; all of them have a very clear commercial opportunity, where they are not directly competing with any existing drugs, but their leading drugs are in breast cancer and in brain cancer. In breast cancer, they’ve reported very strong Phase II data; they’re starting a Phase III on that drug, and so it doesn’t have a lot of catalysts coming up, but the Phase II data in my view was spectacular,” Peaker said.
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Additionally, Celldex has a very innovative drug in the brain cancer space, and a clear biological test to identify patients that are likely to be responders, Peaker says. The company also has an orphan drug in development that adds to its collection of differentiated drugs that are targeting unmet medical needs.
“There are a lot of exciting developments there. They also have an orphan, an ultraorphan drug in development that’s in early stages, which is — we’re going to get some preliminary efficacy, the first efficacy around year end. So they have a number of drugs out there that are targeting really highly unmet medical need with very differentiated profiles and with catalysts on the near-term horizon,” Peaker said.