Shares of CellDex Thereapeutics (CLDX) were slammed late last week after Pfizer (PFE) backed out of an over two-year-old licensing agreement for CDX-110, a cancer vaccine currently being tested for effectiveness in fighting one of the most aggressive forms of brain cancer. CDX-110 is CellDex's most advanced product candidate, currently being evaluated in the later stages of an ongoing Phase II trial.
After having traded near ten dollars over the past year, CLDX collapsed to below the three dollar mark for a brief time on Friday, before recovering somewhat to settle in the mid three dollar range. Over seven million shares traded hands, signifcantly higher than the average of roughly 600,000, and the company's market cap closed last week at 112.56 million.
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