Topline, interim results from Celldex Phase 2b EMERGE study of CDX-011 for advanced breast cancer

Celldex Therapeutics, Inc. (NASDAQ: CLDX) today announced that interim, topline results of the Phase 2b EMERGE study of CDX-011 in patients with advanced breast cancer will be presented in a webcast on May 23, 2012. Linda Vahdat, MD, Professor of Medicine, Chief of Solid Tumor Service and Director of the Breast Cancer Research Program at Weill Cornell Medical College and the lead investigator of the EMERGE study, will join Celldex on the webcast to discuss data from the study. Webcast details will be provided at a later date.

Celldex anticipated presenting these topline results at the American Society of Clinical Oncology (ASCO) 2012 Annual Meeting. Due to a clerical error in which the incorrect submission category was inadvertently selected in the on-line ASCO submission form, the abstract for the EMERGE study was not considered for acceptance. Celldex attempted to rectify this clerical error but was informed that no exceptions are made to the submission policy.

The randomized, multi-center, controlled EMERGE study was initiated in September 2010 and completed enrollment in December 2011. 124 patients were enrolled and randomized (2:1) to receive CDX-011 or "Investigator's Choice" single agent, approved chemotherapy. The primary endpoint of the study is overall response rate. Secondary endpoints include duration of response, progression-free survival, overall survival, safety, and pharmacokinetics and pharmacodynamics analyses. The data in the study continue to mature and the Company expects final data will be presented at a future medical meeting.

CDX-011 is a first-in-class, next generation antibody drug conjugate that targets a Celldex proprietary target, glycoprotein NMB (GPNMB). GPNMB is believed to promote breast cancer metastases and its expression is generally associated with a poor prognosis. Patients in the Phase 2b study were stratified for GPNMB expression patterns and a significant portion of the patients enrolled in the study had triple-negative disease.