Celldex Therapeutics, Inc. (CLDX) is currently licensing Seattle Genetics technology that is targeting a novel receptor in breast cancer in addition to other indications, making CLDX a solid play from a commercial standpoint, says Boris Peaker, Executive Director and Senior Analyst at Oppenheimer & Co., Inc.
“Celldex has a very interesting story. What they are using is, they are licensing Seattle Genetics (SGEN) technology, where you basically put a payload on an antibody targeted directly to the tumor, and while that technology has been tested in many indications, what really excites me about their drug is the fact that they are targeting an entirely novel receptor in breast cancer,” Peaker said.
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Breast cancer has the highest profile in awareness and research funding, and a new targeted therapy in this arena should push Celldex forward commercially, Peaker says.
“In a competitive space from a drug perspective, what we haven’t seen for a long time is a novel target that identified in breast cancer and specifically targeted therapy developed for that target. That’s exactly what Celldex has, in our view, and we think that that makes it commercially very attractive despite all the other therapies available on the market,” Peaker said.