BUZZ-Celldex shares fall after two suspected cases of anaphylactic shock in clinical trials

September 22 - ** Celldex Therapeutics (CLDX.O) shares fell 12.8% to $33.07, on track for the biggest single-day drop in more than a year

** The biotechnology company announced that its experimental drug barzolvolimab met the primary endpoint and all key secondary endpoints in two late-stage studies targeting chronic spontaneous urticaria

** Chronic spontaneous urticaria is a disease that causes recurrent itchy hives and swelling (link)

** Analysts pointed out that safety concerns arising from suspected anaphylaxis cases reported in the trials, as well as efficacy issues, weighed on the share price

** Boosted by the trial results, CLDX surged as much as 45% to $55 in premarket trading

** The company plans to submit a marketing application to the U.S. Food and Drug Administration (FDA) in 2027

** Of 15 brokerages, 14 have a “Buy” or higher rating on the stock, and one rates it “Hold”; the median target price is $56—data compiled by LSEG

** Including today's volatility, CLDX shares are up more than 21% year to date

(To facilitate non-native English speakers, Reuters provides automated translations of its reports in several languages. Because automated translations may contain errors or lack needed context, Reuters does not guarantee their accuracy, and provides them solely for the convenience of readers. Reuters accepts no liability for any harm or losses arising from the use of automated translation features.)