Keyword: Celldex Therapeutics
Injecting a vaccine into tumor sites produced remissions in mice and some lymphoma patients in a study at Mount Sinai.
Celldex culled another two R&D projects after its midstage failure in April, and now says it will focus its efforts mainly on two cancer antibodies.
Celldex is laying off 41 employees and choosing not to fill 18 open positions to cut costs and stay afloat.
Just eight months ago, small-cap Celldex Therapeutics saw its shares plunge by two-thirds after its brain cancer vax Rintega (rindopepimut) failed to improve overall survival in a key late-stage test. Today, it is brushing off that hit with the acquisition of Kolltan Pharmaceuticals to bolster its pipeline.