Quarterly ResultMay 7, 2026, 04:15 PM
Celldex Raises $323.9M in Public Offering; Q1 Net Loss $78.7M
AI Summary
Celldex Therapeutics reported a net loss of $78.7 million for the three months ended March 31, 2026, an increase from $53.8 million in the same period last year. The company also announced a significant capital raise in April 2026, generating approximately $323.9 million in net proceeds from an underwritten public offering of common stock. At quarter-end, cash, cash equivalents, and marketable securities stood at $451.5 million, with $65.6 million used in operating activities. Research and development expenses increased to $73.0 million, primarily driven by the Barzolvolimab/Anti-KIT program.
Key Highlights
- Raised $323.9 million net proceeds from an underwritten public offering in April 2026.
- Reported Q1 2026 net loss of $78.7 million, compared to $53.8 million in Q1 2025.
- Cash, cash equivalents, and marketable securities totaled $451.5 million at March 31, 2026.
- Net cash used in operating activities was $65.6 million for Q1 2026.
- Research and development expenses increased to $73.0 million in Q1 2026 from $52.6 million in Q1 2025.
- Barzolvolimab/Anti-KIT program R&D expenses were $62.2 million in Q1 2026.
- Total stockholders' equity decreased to $456.2 million at March 31, 2026.