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CellDex Therapeutics (NASDAQ:CLDX) couldn't be held down for too long after losing a Pfizer (NYSE:PFE) partnership about a month ago, not when Tuesday produced a 25% gain for shareholders. The surge occurred after the company announced that patients who received CDX-110 for the treatment of Glioblastoma brain cancer lived twice as long as those who only received chemo and radiation.

CellDex will regain worldwide rights to the treatment on November 1st, and any doubts that may have lingered about the Phase II trial after Pfizer backed might have been nullified by this positive announcement.

The news brought volume of over seven million to a stock that has been used to trading only about a half million shares a day, and this move looks for real, unlike others recently that looked more like head-fakes than real recovery.

CDX-110 is still far from making it to market, but the encouraging data cannot be ignored. At the very least, this news puts CLDX right back on the radar as a cancer immunotherapy stock with potential, barely a month after a run of skepticism following the Pfizer pullout.

However, as positive as the news looked on Tuesday, we've got to keep in mind that without the addition of another deep-pocketed partner, CellDex will need to raise cash at some point, meaning dilution is likely.

Definitely worth keeping an eye on this one, if not adding on the dips. Just keep an eye out for the money-raising event.

Disclosure: No position.

Source: CellDex Therapeutics Is Back on the Radar