Celldex appoints Teri Lawver as chief commercial officer

HAMPTON, N.J. - Celldex Therapeutics (NASDAQ:CLDX) announced Monday the appointment of Teri Lawver as Senior Vice President and Chief Commercial Officer, replacing Richard Wright who is retiring after more than ten years with the company. The biotech firm, currently valued at approximately $1.52 billion, has seen its shares decline 7.47% over the past week, trading at $22.90 as of the latest close, according to InvestingPro data.

Lawver brings 30 years of healthcare industry experience, with particular expertise in immunology and inflammation. She previously served as Chief Commercial Officer at Dexcom, Inc., where she managed $4 billion in annual revenue and 1,900 employees across 50 countries.

Prior to Dexcom, Lawver spent 20 years at Johnson & Johnson, rising to Worldwide Vice President for Janssen Immunology. Her experience includes overseeing launches of several blockbuster drugs including Remicade, Stelara, and Tremfya.

Most recently, Lawver was Principal and Owner of Thera Lifescience Advisors, providing strategic guidance to CEOs and investors in life science and health technology companies. She currently serves on the Board of Directors of Altimmune, Inc.

"Teri brings an extraordinary record of success across global biopharmaceutical and medical technology companies," said Anthony Marucci, Co-founder, President, and Chief Executive Officer of Celldex, in the press release statement.

Lawver holds a B.S. in Linguistics from Georgetown University and an M.B.A. from Duke University's Fuqua School of Business. She began her career as a Derivatives Analyst at Bloomberg Financial Markets and later worked as an Associate Principal at McKinsey & Company.

Celldex focuses on developing antibody-based treatments for allergic, inflammatory, and autoimmune disorders, with barzolvolimab among its key pipeline candidates.

In other recent news, Celldex Therapeutics announced positive results from a Phase 2 study of its drug barzolvolimab, which demonstrated sustained efficacy and tolerability over 20 weeks in patients with chronic inducible urticaria. The study, involving 196 patients, met all primary and secondary endpoints with statistical significance. Additionally, Celldex shared new exploratory data showing barzolvolimab's ability to improve urticaria control in patients with chronic spontaneous urticaria, with significant improvements noted in urticaria control test scores. In another development, Celldex reported positive results from a Phase 1 study of its bispecific antibody CDX-622, which was well tolerated and showed a favorable pharmacokinetic profile.

On the analyst front, Mizuho initiated coverage on Celldex with an Outperform rating, citing the potential of barzolvolimab in treating mast-cell mediated diseases. In contrast, Barclays initiated coverage with an Underweight rating, expressing concerns about limited upside potential despite encouraging clinical data. These recent developments highlight ongoing interest and analysis from the investment community regarding Celldex's progress in its clinical trials and market positioning.

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