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 The company's shares plummeted about 60 percent to $3.28 in
premarket trading on Monday.
The vaccine, Rintega, is designed to target a specific genetic
mutation seen in about 30 percent of glioblastoma multiforme (GBM)
tumors.
After a preplanned interim analysis, the independent data safety and
monitoring board estimated that overall survival of patients with
newly-diagnosed GBM who were given Rintega was at a par with those
in the control group.
Based on the board's recommendation, Celldex is abandoning the
study, it said, adding that it did not expect to incur substantial
additional costs related to Rintega.
(Reporting by Natalie Grover in Bengaluru; Editing by Kirti Pandey)
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