Celldex Therapeutics tumbles after halting development of esophagus drug

Celldex Therapeutics

20/08/2025 14:49

** Shares of drug developer Celldex Therapeutics CLDX.O fall 7% to $22.45

** Late on Tuesday, co said it will not advance development of barzolvolimab for eosinophilic esophagitis, a condition where certain allergy-related white blood cells build up in the food pipe, causing swelling that makes eating and swallowing uncomfortable or painful

** In a mid-stage study, the drug met the main goal and successfully eliminated mast cells in the digestive tract, but patients didn't show clinical improvement or feel better

** Co will continue testing barzolvolimab for other skin disease conditions

** Stock down 5% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))