Celldex Q1 Net Loss $78.7M; Phase 3 CSU Enrollment Complete Early
Celldex Therapeutics reported a net loss of $78.7 million, or ($1.18) per share, for the first quarter of 2026, compared to a net loss of $53.8 million, or ($0.81) per share, for the same period in 2025. Revenues decreased significantly to $0.0 million from $0.7 million year-over-year, while R&D expenses rose to $73.0 million. Operationally, the company completed enrollment for its Phase 3 chronic spontaneous urticaria (CSU) studies six months ahead of schedule, with topline data anticipated in Q4 2026 and a BLA submission in 2027. Additionally, Celldex strengthened its balance sheet by raising $345.0 million in gross proceeds from a follow-on public offering in April 2026, extending its cash runway through 2028.
Key Highlights
- Net loss for Q1 2026 was $78.7 million, up from $53.8 million in Q1 2025.
- Total revenues for Q1 2026 were $0.0 million, down from $0.7 million in Q1 2025.
- R&D expenses increased to $73.0 million in Q1 2026 from $52.6 million in Q1 2025.
- Cash, cash equivalents, and marketable securities were $451.5 million as of March 31, 2026.
- Raised $345.0 million in gross proceeds from a follow-on public offering in April 2026.
- Enrollment completed six months ahead of guidance in Phase 3 CSU studies for barzolvolimab.
- Topline data for barzolvolimab CSU studies expected in Q4 2026, with BLA submission planned for 2027.
- Cash position is sufficient to fund operations through 2028, including recent financing.
Price Impact
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