CLDX It’s time to start accumulating again on dips like Thursday.  Emailed CFO Chip Catlin regarding rumor that $PFE was going to discontinue it’s CDX-110 trial due to difficulty of setting up the phase 3 study.  This is absurd.  The design of the phase 3 trail maybe hard, but in my opinion, it’s only because the drug works well and whoever takes the trial won’t want to risk going on the placebo.  As Chip Catlin points out, PFE has invested significant money already into the program and is currently working on the phase 3 setup design.

Also, regarding the shelf filed, CLDX says there is no rush to use the shelf and would do so at an appropriate share price.  I believe this due to it’s cash position.  This also tells me this is an unexpected reaction from ASCO results and like DCTH, management must have expected the price to go higher because the overall results from ASCO were good.

CLDX was a big trade for most that rode it up, but I also know many that bought in the 4s and rode it for the complete round trip.  This happens all time time in biotech for companies that don’t have drugs in phase 3 trials, and the selloff on ASCO was predicted many time because that is what usually happens on ASCO.

However, believe it or not, fundamental investors have already started to pick up CLDX for the run into next ASCO.

Disclosure:  At the time of writing this, did not start buying but will next week with starter positions and looking to scale into a larger position.

Welsh