Celldex price target lowered to $33 from $39 at Cantor Cantor cut its price target on Celldex after the company discontinued development of CDX-1135 for dense deposit disease following unfavorable data. The firm, however, notes that the company intends to initiate six new clinical trials this year and expand a number of other trials. Cantor believes that this expansion of the company's clinical program will help offset the loss of CDX-1135. Cantor keeps a Buy rating on the shares.
Celldex appoints Richard Wright as Chief Commercial Officer Celldex Therapeutics announced the promotion of Richard Wright, Ph.D. to SVP and the newly created position of Chief Commercial Officer. Dr. Wright was previously Vice President of Commercial Operations at Celldex and brings nearly 25 years of industry experience, including the commercialization of six successful drug therapies. As Chief Commercial Officer, Dr. Wright is responsible for developing global business strategy and building the infrastructure required to support commercialization of Celldex's cancer immunotherapy pipeline.