Comeback kid: Celldex gets latest lift from acquired urticaria program

Celldex’s latest revival is largely thanks to a 2016 acquisition that gave the company a KIT inhibitor that has now produced positive updated data in urticaria.

The strength of Phase Ib data for anti-KIT mAb CDX-0159 in chronic inducible urticaria (CIU) has nearly brought the biotech full circle from 2018 when its former lead program failed in a Phase IIb trial. Ahead of presenting additional Phase Ib data for CDX-0159 on Friday, Celldex Therapeutics Inc. (NASDAQ:CLDX) shares stood at $32.41 at Friday’s close, with a market cap approaching $1.3 billion — a substantial turnaround from where the company was a little more than a year ago. In after-hours trading late Friday, the stock was up 34%...