Celldex Therapeutics, Inc. (CLDX) announced on Wednesday the results of its phase 2 study on barzolvolimab, a treatment for chronic spontaneous urticaria, an immune-related condition.
After 52 weeks of treatment, the biotechnology company reported that 71 percent of participants achieved complete response. Additionally, significant improvements in the weekly urticaria activity score (UAS7) were observed starting from the first week.
Despite these promising results, Celldex's stock is currently down 24.11 percent, trading at $31.08 compared to the previous close of $40.96 on the Nasdaq.