Earnings ·
Reports Q3 net loss of $0.96 per share as R&D costs rise to $67.4 million
CLDXCelldex Therapeutics, Inc.
Celldex Therapeutics reported a third-quarter net loss of $75.6 million, or $0.96 per share, compared to a $67.0 million loss in the prior-year period. The increase was driven by higher research and development expenses of $67.4 million, up from $62.9 million, primarily due to increased clinical trial costs for barzolvolimab and expanded headcount. General and administrative expenses also rose to $14.8 million from $10.7 million as the company advanced commercial planning. Cash and equivalents decreased to $650.3 million from $717.6 million, with operating cash usage totaling $65.0 million. The company confirmed that its current liquidity is sufficient to fund operations through 2028 while it awaits a BLA submission for barzolvolimab in chronic spontaneous urticaria expected in 2027. Celldex Therapeutics operates as a clinical-stage biopharmaceutical company focused on developing novel antibody-based treatments for immune and inflammatory disorders.