Over the weekend, Celldex Therapeutics  released updated phase 2 data around its drug candidate CDX-011. Leveraging Seattle Genetics'  proprietary drug-targeting technology, the drug displayed a statistically significant overall survival benefit to certain patients. Wall Street loved this news, and the stock was up 25% today. In this video, Motley Fool health care bureau chief Brenton Flynn tells us some of the possible applications of the drug if approved, and cautions that though this increases approval chances, the drug still has a long way to go before it gets to that stage.

Celldex is the quintessential biotech stock whose price hinges on clinical trial data. While embracing stocks like that might lead to the occasional big win, the best investing approach is to choose great companies and stick with them for the long term. In our free report "3 Stocks That Will Help You Retire Rich," we name stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.


The article Celldex Soars After Exciting Phase 2 Data originally appeared on Fool.com.

Brenton Flynn, Max Macaluso, and The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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