Celldex Therapeutics, Inc. (CLDX)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$157.0K

Revenue growth

-97.3%

Net income, last twelve months

-$300.5M

Earnings per share

-$4.35

Operating margin

-207534.4%

Net margin

-191432.5%

Free cash flow

-$242.1M

Return on equity

-42.1%

Market value

$2.3B

Cash

$47.5M

Debt

$0

Debt to equity

0.00

Shares outstanding

78.5M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 6 August 2026.

• Net loss rose from prior-year quarter. Net loss was $73.5 million, or $(0.94) per share, versus $56.6 million, or $(0.85) per share, a year earlier. First quarter 2026 net loss was $78.7 million.
• No material revenue in quarter. Total revenue was $22 thousand, against $730 thousand a year earlier. The decline was attributed to lower services under agreements with Rockefeller University.
• Six-month net loss totals. Net loss for the six months ended June 30, 2026 was $152.2 million, or $(2.11) per share, against $110.4 million, or $(1.66) per share, for the same period of 2025.
• CSU Phase 3 enrollment finished early. 1,939 patients were enrolled in the two CSU Phase 3 studies across 43 countries and over 500 sites, completed six months ahead of guidance.
• CSU topline expected September/October. Topline data from EMBARQ-CSU1 and EMBARQ-CSU2 are anticipated in September/October 2026, supporting a planned BLA filing in 2027.
• Long-term angioedema-free results. At Week 76, seven months after dosing ended, up to 64% of patients with angioedema at baseline remained angioedema-free, presented at EAACI in June 2026.
• Prurigo nodularis Phase 2 failed. Topline data presented in July 2026 showed the PN Phase 2 study did not meet primary or key secondary endpoints. Barzolvolimab was well tolerated, and tryptase was rapidly suppressed.
• Mast cells may not drive PN. Management said the PN results suggest mast cells may not be the key pathogenic driver in prurigo nodularis.
• CDX-622 Phase 1 lowered tryptase. Phase 1 results showed rapid, profound, dose-dependent and durable reductions in serum tryptase, which management called indicative of tissue mast cell depletion.
• CDX-622 well tolerated in trial. CDX-622 was well tolerated in all study parts and at all dose levels, with no dose-limiting toxicities or related serious adverse events reported.
• Asthma proof-of-mechanism study ongoing. A Phase 1 CDX-622 proof of mechanism study in asthma began in January 2026 and remains ongoing.
• Monkey study on soluble SCF. A non-human primate study presented in June showed targeting soluble SCF depleted mast cells similarly to membrane SCF, without measurable effect on spermatogenesis or melanogenesis.
• CDX-622 expansion to allergy indications. Based on recently reported data, the company is advancing CDX-622 into allergic rhinitis and food allergy, in addition to asthma.
• R&D spend rose to $67.5 million. Research and development expenses were $67.5 million in the quarter, against $54.2 million a year earlier, and $140.5 million for the six months, against $106.8 million.

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2025

Company events

The newest 8-K filings of 213 held.

Every filing

The newest filings with the SEC of 556 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

275 funds held it at 30 Jun 2026: 147 added and 57 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• IDEXX Laboratories Inc. (IDXX): revenue $4.6B, market value $44.4B
• Lantheus Holdings, Inc. (LNTH): revenue $1.6B, market value $6.5B
• Neogen Corp. (NEOG): revenue $884.0M, market value $2.6B
• Intellia Therapeutics, Inc. (NTLA): revenue $59.5M, market value $1.9B
• QuidelOrtho Corp. (QDEL): revenue $2.7B, market value $956.5M

What the company does

Celldex Therapeutics is a biopharmaceutical company that develops therapeutic antibodies based on the science of mast cell biology. Its drug candidates are monoclonal and bispecific antibodies designed for mast cell mediated diseases where available treatments are inadequate. The company has had no commercial revenues from sales of its drug candidates, so its activity is research, clinical trials and manufacturing preparation. Its lead candidate is barzolvolimab, which is in Phase 3 studies in urticaria.

What it develops

Barzolvolimab, also called CDX-0159, is a humanized monoclonal antibody that binds the KIT receptor. KIT is found on mast cells, and its activation by stem cell factor (SCF) regulates mast cell growth, survival and degranulation. The antibody is designed to block KIT activation by disrupting both SCF binding and KIT dimerization. The company says it believes this could give clinical benefit in mast cell related diseases. It is given by subcutaneous injection, and the company notes this allows potential self-administration at home.

Where the trials stand

Two Phase 3 studies, EMBARQ-CSU1 and EMBARQ-CSU2, enrolled 1,939 patients across 43 countries and over 500 sites. The company says topline data will be available in the fourth quarter of 2026. A Phase 3 study in cold urticaria and symptomatic dermographism, EMBARQ-ColdU and SD, began in December 2025 with approximately 240 participants planned at approximately 75 sites in 7 countries.

Two Phase 2 studies in other skin diseases are fully enrolled. One is in prurigo nodularis, with approximately 120 patients, and the other is in atopic dermatitis, also with approximately 120 patients. The company says it expects topline data from the prurigo nodularis study in summer 2026 and from the atopic dermatitis study in late 2026. The company stopped development in eosinophilic esophagitis in August 2025 after interim Phase 2 results.

The bispecific platform

Celldex is also building a bispecific antibody platform for inflammatory diseases. Its first candidate, CDX-622, targets thymic stromal lymphopoietin (TSLP) and SCF. It is designed to neutralize TSLP and to deplete mast cells by starving them of SCF. A Phase 1a study in up to 80 healthy participants has completed enrollment. In January 2026 the company started a Phase 1 study in adults with mild to moderate asthma.

Manufacturing and selling

Celldex operates its own cGMP manufacturing facility in Fall River, Massachusetts. It has 250L and 1000L bioreactor capacity and makes drug substance for early-stage trials. For late-stage trials and possible commercialization, the company uses contract development and manufacturing organizations (CDMOs). Barzolvolimab drug product has been filled into 1 mL pre-filled syringes, which are in use in the Phase 3 trials.

The company describes its commercial resources and experience as limited. It says it may build its own commercial organization to retain marketing rights, or it may pursue partnerships. It has a license agreement with Yale University for barzolvolimab, which carries a low single-digit royalty on annual worldwide net sales and runs no later than May 2038. The company estimates the U.S. composition of matter patent for barzolvolimab expires in 2034.

Competitors and regulators

The filing lists companies with a Phase 3 study or an approved product that could compete with barzolvolimab. Some competitors have greater financial, technical and human resources than Celldex.

In the European Union it would submit marketing authorization applications to the European Medicines Agency under the centralized procedure.

Its people

Of the 198 full-time employees, 30 hold Ph.D. or M.D. degrees. A total of 166 work in or directly support research and development.

*From Celldex Therapeutics's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/744218/000110465926019652/cldx-20251231x10k.htm)*

From the company's 10-K.