Expert Financial Analysis and Reporting

SmithOnStocks Mailbox About the Mailbox: My mailbox comments are brief articles on stocks in which I am involved. These can come from recent events or from subscribers’ questions. They are meant to address specific issues about these stocks and are not full and balanced reports. Please refer to the Reports section of my website for […]

Overview This report updates my investment thinking on Celldex and also provides a brief overview of its two late stage products. Rentega (rindopepimut) is a peptide cancer vaccine in late stage development in both recurrent glioblastoma (rGBM) and newly diagnosed glioblastoma multiforme ndGBM) brain tumors that express the EGFRvIII mutation; it could be approved in […]

Investment Thesis Celldex held a conference call after the close on Friday, November 14, 2014 to discuss the interim results of the phase 2 trial of rindopepimut in recurrent glioblastoma multiforme (also referred to as GBM). The results were quite positive-much better than I expected- and I believe that they can be the basis for […]

Report Overview Celldex released interim data on the ReACT trial of rindopepimut in recurrent glioblastoma at the Society for Neuro-Oncology (SNO) on November 24, 2013. I am always cautious on rushing out with an interpretation of data from a clinical trial shortly after it is released. There are many different data points in a trial […]

Celldex (CLDX) has just announced a financing in which the Company has issued 7.0 million shares and will receive net proceeds of $163 million. If the Green Shoe is exercised, as seems likely, shares issued and net proceeds would be 8.05 million and about $187 million, respectively. The Company had $136 million of cash as […]

Investment Significance of Upcoming Conference Call Celldex (CLDX) has raised expectations for positive results for rindopepimut in recurrent glioblastoma. It will hold a conference call on Monday, November 25 at 8:30 AM to discuss results on the use of rindopepimut in recurrent glioblastoma. The actions of Celldex clearly indicate that the data will be positive. […]

Note: Comprehensive reports are now available to paid subscribers and can be found in the Reports section. Investment Background and Thesis This post is the summary of a much more extensive report that is available to paid subscribers. In that report, I discuss rindopepimut and other cancer vaccines for GBM in more detail. In my initial report on […]

Investment Background and Thesis In my initial report on Celldex, I highlighted four interesting products that the Company has in development. Two of these are in randomized phase II or III trials that could be the basis for regulatory filings: rindopepimut for glioblastoma (GBM) and CDX-011 or glembatumab for triple negative GPNMB positive breast cancer. I […]

This post is an excerpt from the report: Celldex: Pipeline Promise Has Been Embraced by Wall Street Comprehensive reports are now available to paid subscribers and can be found in the Reports section. Review of Amazing and Volatile Stock Price Performance From the closing price on December 30, 2011 through October 1, 2013 Celldex’s (CLDX) stock […]

Review of Amazing and Volatile Stock Price Performance From the closing price on December 30, 2011 through October 1, 2013 Celldex’s (CLDX) stock price increased 15 fold from $2.60 to $37.83; its shares have recently backed off to about $26.00. The number of shares outstanding nearly doubled over this 21 month timeframe from 44.2 million […]