Celldex has struggled for a couple years now since its brain cancer drug Rintega failed in 2016. In Q2 this year, results from a pivotal study of the gpNMB antibody drug conjugate, Glembatumumab Vedotin, may change the company’s fate. Glembatumumab is being tested in women with triple negative breast cancer with >25% gpNMB expression. Patients […]
March 7 Biotech Update
I hope everyone had a good weekend. We are off to a rather slow start with not a lot of meaningful news (again). We have a more positive sentiment background and likely the continued short covering rally, so that might be enough to move the sector higher. The trend that I want to watch this […]
November 17 Biotech Update
This morning was just a little bit busy. The market was neutral, which gives us a nice clean way to see how the biotechs are reacting to news. In general, it appears that good news is still moving stocks higher, although some of the moves were more muted than you would expect. In any case, […]
November 25 Biotech Update- What to Make of CLDX and CBST data and the new MRK trial
The market was a low volume chop fest (although with a fairly narrow range) for the most part and I do not think we should read too much into price movements unless they really take off on above average volume. We might be able to learn something about sentiment this week but I believe that […]
ASH 2013 Preview on Lymphoid Malignancies
This year’s annual meeting of the American Society of Hematology(ASH13) is highly anticipated for a number of reasons. Pharmacyclic’s Ibrutinib could be viewed as one of the several catalysts sparking the biotech sector’s run the past 2 years. They are now within months of receiving approval for 2 indications where they could benefit patient lives […]
CLDX – A look at CDX-1127
Celldex Therapeutics (CLDX) has one of the most anticipated data releases amongst small biotech companies this fall. They are scheduled to present data from their Phase 1 dose-escalation trial of a CDX-1127 (CD27, a T-cell stimulator) at the annual meeting of the Society for ImmunoTherapy of Cancer(SITC), November 7-10th. We will also likely see some […]
October 1- EOD
It was a fairly busy day today in biotech land the sentiment certainly appears more positive. They participated in the market rally even though most were not big losers in the recent macro selling. This is certainly positive going forward. I want to focus on the MRK news as it touches on a lot of […]
Week’s Option Activity (8/19~8/22)
The following stocks had notable activity in their options during the past week: $AMRN (8/19): 5,000 OCT 7.0 strike Calls (stock at $6.00) were sold for 0.87 or $435,000 total proceeds. Seller makes money as long as stock trades below $7.87 by expiration. This trade may also be a current long stockholder selling Calls to […]
July 16- EOD
Seemed like a slow news day as the markets pulled back to consolidate some of the recent moves. Biotechs were not immune to the move, although some clearly performed better than others. 1. EPZM has shown incredible strength since the IPO. While I like this company’s technology and would like to own some shares, it […]
Week’s Option Activity (7/8~7/12)
The following stocks had notable activity in their options during the past week: $CLDX (7/8): 1,000 AUG 22.0 strike Calls (stock at $21.27) were sold at 1.10 for total proceeds of $110,000. Seller makes money as long as stock trades less than $23.10 by August expiration. This trade is most likely paired with an equivalent […]
July 8- EOD
Perhaps we were spoiled last week with the ONXX news but this week seems to be getting off to a slow start. There were some decent sized moves in biotech but in terms of news flow it was a little light. We might be in for a little bit of a breather in terms of […]
Week’s Option Activity (6/3~6/7)
The following stocks had notable activity in their options during the past week: $AFFY (6/3): 3,000 JAN14 2.0 strike Calls were purchased (stock at $2.08) for a debit of 0.45 or $135,000. Buyer makes money if stock is greater than $2.45 by expiration. Stock was subsequently de-listed from the NASDAQ on June 6. Oops. $CHTP […]
Q2 outlook for ARIA, AEGR, CLDX, GHDX, ISIS, MNTA, RPRX, XNPT
First quarter updates for 2013 are on the horizon. Below we outline some of the main events for some biotech companies we’re tracking closely. Aegerion Pharmaceuticals (NASDAQ: AEGR) Most investors will be focused on the how the US launch of Juxtapid(Lomitapide) is tracking. JUXTAPID was approved by the FDA in December 2012. They anticipate a […]
CLDX – A look at a potentially promising orphan drug
With orphan drugs all the rage these days, we wanted to visit an asset owned by a company we follow quite closely. By choosing indications with high unmet need and targetable pathways, companies have commercialized new drugs at lower development cost, shorter clinical studies and streamlined pathways to approval. They’ve also been able to charge […]
CLDX – 2013 Outlook for Celldex
Honestly, we have been one of the very few to stand by Celldex Therapeutics (NASDAQ: CLDX) over the past year and a half. The opportunity for CDX-011 marks a major inflection point in the company and the market is still not giving them much credit. Off the heels of strong data in December, we continue […]
Notes from JP Morgan Healthcare Conference (Monday/Tuesday session)
As we go into the 3rd day of the JP Morgan Healthcare Conference, we wanted to provide some highlights and notes from the first 2 sessions. I tried to keep them as concise as possible. Day 1 Clearly, Celgene Corp.(NASDAQ: CELG) came firing out of the gates by announcing strong financial guidance. This included in-line […]
CLDX – A Positive Divergence Case
Celldex Therapeutics, Inc. (CLDX)-Nasdaq CLDX’s chart is one of a kind and very easy to understand even by a novice chart technician. It has been repeating the same moves, creating a pattern that makes it easy to predict, using a historical resistance & support lines to find the points of the reversals. Starting in June […]
What to expect at SABCS12 from Celldex
As Celldex Therapeutics comes closer to their presentation at the San Antonio Breast Conference Symposium this weekend, we wanted to provide a primer on their CDX-011 program. With around $370 million in market capitalization, we do not believe the market is adequately valuing the CDX-011 program. We plan to walk thru the data and potential […]
Option traders making moves
Today, we detected some large moves in the option markets for multiple names we follow. As we enter the fourth quarter, we suspect this increase in frequency. ARIAD Pharmaceuticals (NASDAQ: ARIA) The February $16 puts were very active today, with over 9,000 in volume (vs open interest of only 76 contracts). One trader sold two […]
Upcoming events for EXEL, ARQL, CLDX
This is the second installment in our series about upcoming events across the biotech sector(see our 1st piece). As we have said before, this fall should be full of meaningful data catalysts for biotech companies. In our next segment, we will take a look at a few larger biotech companies and what we will be […]
