Medical Stocks in the News: Celldex Therapeutics (NASDAQ:CLDX), NeuroMetrix (NASDAQ:NURO)



Celldex Therapeutics (NASDAQ:CLDX) is lower Monday afternoon after its net loss  widened and revenue declined compared to the year-ago period. Results were better than Wall Street’s expectations but could not fend off sellers.

In early afternoon action, shares of the biopharmaceutical company are down 11% at $26.15 and traded earlier as low as $25.76. The stock moves within a 52-week range of $9.13 – $38.84.

Celldex (NASDAQ:CLDX) reported a Q4 loss of $22.1 million or $0.27 per share, compared with the prior-year period’s $16.8 million or $0.27 loss per share. Revenue was $620,000 down from million $3.65 million in the same quarter last year.

Analysts polled by Capital IQ were expecting $0.29 loss per share on revenues of $250,000.

The company said it expects that its cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements through 2016.

Medical device company NeuroMetrix (NASDAQ:NURO) jumped 15% on Monday to $2.67 per share following positive results from a University of Toronto study on the effectiveness of the company’s NC-stat DPNCheck, a quantitative point-of-care test for diabetic peripheral neuropathy.

Shai N. Gozani, MD, PhD, President and CEO said, “The excellent diagnostic performance of DPNCheck, as reported by Lee and colleagues, indicates that it is effective at both detecting and ruling-out DPN. This supports its use for screening as well as conventional diagnostic testing. Moreover, the study expands the large base of clinical evidence supporting the effectiveness of NC-stat nerve conduction measurement technology.”

NeuroMetrix (NASDAQ:NURO) is up on 787,000 shares at noon compared to average daily volume of 445,000 shares. The stock has a 52-week price range of $1.47 – $4.25 per share.

Signup for free to be the first to receive exclusive free links. Now in your mailbox!
Join over 15,000 subscribers
Send me links

Your information will not be shared to anyone