Home / Business and Economy / Celldex Drug Fails Mid-Stage Trial, Shares Tumble
Celldex Drug Fails Mid-Stage Trial, Shares Tumble
22 Jul
Summary
- Celldex Therapeutics discontinued experimental drug development.
- The drug failed to meet primary and secondary study goals.
- Company shares dropped over 7% in extended trading.
Celldex Therapeutics has halted the development of its experimental drug intended for a specific skin disease. The decision was made after the drug did not achieve the primary objectives or key secondary goals in a mid-stage clinical trial. This outcome has led to a notable market reaction, with the company's shares experiencing a decline of over 7% in extended trading hours.
The failure of this trial signifies a setback for Celldex Therapeutics' pipeline and its efforts to bring a new treatment to market. The company will now re-evaluate its strategy moving forward.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
