Celldex Therapeutics, Inc. (CLDX), a clinical-stage pharmaceutical company, on Wednesday priced its public offering of 10.345 million shares at $29 per share. The gross proceeds of the offering are expected to be $300 million.
Following the news, CLDX is down 3.45% in the after-hours market to $30.18.
Celldex intends to use the net proceeds of this offering, along with existing cash and equivalents, to fund ongoing commercial readiness activities and the commercial launch of Barzolvolimab, if approved, for the treatment of Chronic Spontaneous Urticaria in the United States, to continue preclinical development of product candidates, to grow the bispecific antibody platform and clinical candidates and for general corporate purposes.
Celldex's drug candidates are primarily monoclonal and bispecific antibodies designed to address mast cell-mediated diseases and it's development programs include Barzolvolimab (CDX-0159), for the treatment of chronic urticaria, prurigo nodularis, eosinophilic esophagitis, and atopic dermatitis; and CDX-622 for inflammatory diseases.
Leerink Partners, TD Cowen, Guggenheim Securities and Cantor are acting as joint bookrunning managers for the offering.
For the full year 2025, Celldex reported a wider net loss of $258.76 million, or $3.90 per share, compared to $157.86 million, or $2.45 per share, in the prior year.
Celldex's total revenue from licensing agreements, contracts, and grants decreased to $1.55 million from $7.02 million in the year-ago period, primarily driven by decrease in services performed under agreements with Rockefeller University.
Celldex believes that the cash, cash equivalents and marketable securities of $518.57 million as of December 31, 2025, are sufficient to fund planned operations through 2027.
CLDX has traded between $14.40 and $34.52 in the last year. The stock closed Wednesday's trade at $31.26, down 1.45%.
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