Celldex's highly anticipated breast cancer drug fails to hit the mark in a midstage trial

Celldex's shares are cratering in response to the news that its once promising triple negative breast cancer (TNBC) drug candidate, glembatumumab vedotin (glemba), failed to meet its primary end point of improving progression-free survival, compared to patients receiving capecitabine in the midstage trial known as METRIC.