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Celldex Therapeutics, Inc. (NASDAQ:CLDX) has recently presented at the European Society for Medical Oncology (ESMO) Congress 2016 the encouraging results from the Phase 2 clinical trial evaluating glembatumumab vedotin, a monoclonal antibody drug conjugate (ADC) targeting glycoprotein NMB (gpNMB) for the treatment of patients suffering from stage III/IV checkpoint inhibitor-refractory and— if applicable— BRAF/MEK inhibitor-refractory metastatic melanoma.

Thomas Davis, M.D., Celldex Therapeutics Chief Medical Officer (CMO) and Executive Vice President (EVP), believes that glembatumumab vedotin is a potential treatment for refractory metastatic melanoma, citing the results of the Phase 2 clinical trial.

Clinical Trial Results

The Phase 2 clinical trial has exceeded its primary endpoint of achieving at least six objective responses out of the first 52 patients, having seven objective responses. Three more patients have also exhibited single time point responses.

Meanwhile, 53% of the subjects have experienced a stable disease with a minimum six-week duration while 52% of them have experienced a shrinking of tumor. The median progression-free survival (PFS) is 4.40 months.

The safety profile of glembatumumab vedotin has been established as well, remaining consistent with previous clinical trials evaluating its safety. The most adverse occurrences observed by far include neuropathy, neutropenia, and rash.

Encouraging Data

“I am hopeful that pursuing combination studies of glembatumumab vedotin, including with checkpoint inhibition, could help us bring benefit to an even larger number of melanoma and other cancer patients,” noted Patrick Ott, M.D., Ph.D., Dana-Farber Cancer Institute Clinical Director of Melanoma Center and Center for Immuno-Oncology, who is strongly encouraged by the latest positive results.

Earlier this year, Celldex Therapeutics has announced its plans to include a second cohort of patients for glembatumumab vedotin as a combination therapy with varlilumab.

Varlilumab is a monoclonal agonist antibody binding and activating CD27, a co-stimulatory molecule in the immune activation cascade.

Presently, the enrollment for the said clinical trial evaluating glembatumumab vedotin with varlilumab is ongoing. Once completed, the company is considering initiating a new part of the clinical development program to evaluate glembatumumab vedotin and checkpoint combination.

Late Tuesday morning, Celldex Therapeutics is trading at $4.02.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.