{"id":40340,"date":"2017-09-20T08:20:18","date_gmt":"2017-09-20T12:20:18","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=40340"},"modified":"2017-09-20T04:48:29","modified_gmt":"2017-09-20T08:48:29","slug":"celldex-therapeutics-inc-nasdaqcldx-chief-medical-officer-resigns","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/celldex-therapeutics-inc-nasdaqcldx-chief-medical-officer-resigns-40340","title":{"rendered":"Celldex Therapeutics, Inc. (NASDAQ:CLDX) Chief Medical Officer Resigns"},"content":{"rendered":"

Celldex Therapeutics, Inc. (NASDAQ:CLDX)<\/strong> announced the resignation of the Executive Vice President and Chief Medical Officer (CMO), Thomas Davis, effective September 29. Anthony Marucci, Co-Founder, President and CEO of the company stated that the clinical programs have grown greatly during Davis\u2019 term and they are grateful for his significant contributions and wish him well in his future undertakings.<\/p>\n

According to Marucci, the company has an exceptional clinical science team which is led by four competent physicians with deep experience in drug development and that the exit of the CMO will have no impact on the company progress and that they will still achieve their planned milestones under the current leadership. Furthermore, the company is looking forward to a hectic end of the year with a top line data from METRIC study expected to be revealed in the second quarter of next year.<\/p>\n

The share of Celldex\u2019s dropped by 12.5% in June even immediately after presenting the data from two clinical trials for new cancer therapies during the annual meeting. The investors were stunned by the early-stage data from the clinical trial that combined the varlilumab and Bristol-Myers Squibb\u2019s Opdivo for treating advanced colorectal and ovarian cancer. Only three out of 21 patients enrolled in the first part of the two-stage trials showed partial tumor shrinkage. Another presentation from the glemba study for the treatment of melanoma was fairly positive though it could not save the company\u2019s market beat-down.<\/p>\n

The company shareholders are now focusing on the results from the second group that was added to the trial which would be presented soon. The previous data showed a 16% response rate of the 62 patients enrolled for glemba treatment up from the 11% reported last year though it seemed not impressive to the investors.<\/p>\n

With the resignation of the CMO, the company needs to work hard to ensure that the much-awaited results from the METRIC study fulfill the desires of the shareholders. Celldex develops specific therapeutics that helps to address the destructive diseases for which the treatments available in the market are not adequate.<\/p>\n","protected":false},"excerpt":{"rendered":"

Celldex Therapeutics, Inc. (NASDAQ:CLDX) announced the resignation of the Executive Vice President and Chief Medical Officer (CMO), Thomas Davis, effective September 29. Anthony Marucci, Co-Founder, […]<\/p>\n","protected":false},"author":2,"featured_media":37635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[12144,12143,12145,12877],"stock_ticker":[],"class_list":["post-40340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-celldex-therapeutics-inc","tag-celldex-therapeutics-inc-nasdaqcldx","tag-nasdaqcldx","tag-thomas-davis","entry"],"acf":[],"yoast_head":"\nCelldex Therapeutics, Inc. 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