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Celldex drops as Pfizer dumps rindopepimut

This article was originally published in Scrip

Executive Summary

Celldex Therapeutics suffered a sharp drop in its share price, wiping almost $40 million off its value to $113 million, following news that Pfizer is terminating their collaboration over rindopepimut, an investigational brain cancer vaccine that was the subject of a $440 million deal signed in 2008, which included a $40 million upfront payment.

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