Celldex Therapeutics (CLDX)
Market Price (2/1/2026): $24.61 | Market Cap: $1.6 BilSector: Health Care | Industry: Biotechnology
Celldex Therapeutics (CLDX)
Market Price (2/1/2026): $24.61Market Cap: $1.6 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -36% | Weak multi-year price returns2Y Excs Rtn is -75%, 3Y Excs Rtn is -120% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -256 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9855% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.84, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% | Expensive valuation multiplesP/SPrice/Sales ratio is 628x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -74%, Rev Chg QQuarterly Revenue Change % is null | ||
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 1426% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6903%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6987% | ||
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 112% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18% | ||
| Key risksCLDX key risks include [1] its pivotal dependency on the successful clinical trial outcomes and regulatory approval of its lead candidate, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -36% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -75%, 3Y Excs Rtn is -120% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.84, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -256 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9855% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 628x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -74%, Rev Chg QQuarterly Revenue Change % is null |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 1426% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -6903%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6987% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 112% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18% |
| Key risksCLDX key risks include [1] its pivotal dependency on the successful clinical trial outcomes and regulatory approval of its lead candidate, Show more. |
Qualitative Assessment
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Celldex Therapeutics (CLDX) stock has lost about 10% since 10/31/2025 because of the following key factors:
1. Celldex Therapeutics reported a wider-than-expected net loss and missed analyst consensus estimates for its third-quarter 2025 earnings. The company posted an EPS of -$1.01, falling short of the -$0.88 consensus estimate. The net loss for Q3 2025 was $67.0 million, or ($1.01) per share, compared to a net loss of $42.1 million, or ($0.64) per share, in the third quarter of 2024. Total revenue for Q3 2025 was $0.0 million, a significant decrease from $3.2 million in the comparable period of 2024.
2. The company discontinued further development of barzolvolimab in eosinophilic esophagitis (EoE) due to a lack of clinical outcomes. Although the Phase 2 study met its primary endpoint of potent mast cell depletion, this did not translate into improved clinical outcomes, indicating that mast cells may not be a primary driver in EoE. This decision, reported within the relevant timeframe through the Q3 2025 financial results, could have tempered investor enthusiasm regarding the breadth of barzolvolimab's pipeline.
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1. Celldex Therapeutics reported a wider-than-expected net loss and missed analyst consensus estimates for its third-quarter 2025 earnings. The company posted an EPS of -$1.01, falling short of the -$0.88 consensus estimate. The net loss for Q3 2025 was $67.0 million, or ($1.01) per share, compared to a net loss of $42.1 million, or ($0.64) per share, in the third quarter of 2024. Total revenue for Q3 2025 was $0.0 million, a significant decrease from $3.2 million in the comparable period of 2024.
2. The company discontinued further development of barzolvolimab in eosinophilic esophagitis (EoE) due to a lack of clinical outcomes. Although the Phase 2 study met its primary endpoint of potent mast cell depletion, this did not translate into improved clinical outcomes, indicating that mast cells may not be a primary driver in EoE. This decision, reported within the relevant timeframe through the Q3 2025 financial results, could have tempered investor enthusiasm regarding the breadth of barzolvolimab's pipeline.
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Stock Movement Drivers
Fundamental Drivers
The -7.9% change in CLDX stock from 10/31/2025 to 2/1/2026 was primarily driven by a -55.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 2012026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.73 | 24.61 | -7.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6 | 3 | -55.1% |
| P/S Multiple | 306.5 | 628.7 | 105.2% |
| Shares Outstanding (Mil) | 66 | 66 | 0.0% |
| Cumulative Contribution | -7.9% |
Market Drivers
10/31/2025 to 2/1/2026| Return | Correlation | |
|---|---|---|
| CLDX | -8.0% | |
| Market (SPY) | 1.5% | 21.4% |
| Sector (XLV) | 7.3% | 31.7% |
Fundamental Drivers
The 12.0% change in CLDX stock from 7/31/2025 to 2/1/2026 was primarily driven by a 225.7% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2012026 | Change |
|---|---|---|---|
| Stock Price ($) | 21.98 | 24.61 | 12.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 8 | 3 | -65.6% |
| P/S Multiple | 193.0 | 628.7 | 225.7% |
| Shares Outstanding (Mil) | 66 | 66 | -0.1% |
| Cumulative Contribution | 12.0% |
Market Drivers
7/31/2025 to 2/1/2026| Return | Correlation | |
|---|---|---|
| CLDX | 11.9% | |
| Market (SPY) | 9.8% | 24.8% |
| Sector (XLV) | 19.2% | 20.0% |
Fundamental Drivers
The 0.5% change in CLDX stock from 1/31/2025 to 2/1/2026 was primarily driven by a 286.3% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2012026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.49 | 24.61 | 0.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 10 | 3 | -73.9% |
| P/S Multiple | 162.7 | 628.7 | 286.3% |
| Shares Outstanding (Mil) | 66 | 66 | -0.2% |
| Cumulative Contribution | 0.5% |
Market Drivers
1/31/2025 to 2/1/2026| Return | Correlation | |
|---|---|---|
| CLDX | 0.4% | |
| Market (SPY) | 16.0% | 35.3% |
| Sector (XLV) | 6.8% | 38.1% |
Fundamental Drivers
The -44.1% change in CLDX stock from 1/31/2023 to 2/1/2026 was primarily driven by a -67.2% change in the company's P/S Multiple.| (LTM values as of) | 1312023 | 2012026 | Change |
|---|---|---|---|
| Stock Price ($) | 44.06 | 24.61 | -44.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1 | 3 | 141.2% |
| P/S Multiple | 1,917.6 | 628.7 | -67.2% |
| Shares Outstanding (Mil) | 47 | 66 | -29.4% |
| Cumulative Contribution | -44.1% |
Market Drivers
1/31/2023 to 2/1/2026| Return | Correlation | |
|---|---|---|
| CLDX | -44.2% | |
| Market (SPY) | 76.6% | 28.5% |
| Sector (XLV) | 21.4% | 29.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CLDX Return | 121% | 15% | -11% | -36% | 7% | -9% | 41% |
| Peers Return | -8% | 21% | -4% | 6% | 109% | 3% | 146% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 2% | 86% |
Monthly Win Rates [3] | |||||||
| CLDX Win Rate | 67% | 50% | 42% | 42% | 67% | 0% | |
| Peers Win Rate | 48% | 50% | 52% | 52% | 63% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| CLDX Max Drawdown | -8% | -47% | -49% | -41% | -40% | -9% | |
| Peers Max Drawdown | -27% | -23% | -31% | -15% | -22% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: REGN, AMGN, COGT, INCY, KNSA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 1/30/2026 (YTD)
How Low Can It Go
| Event | CLDX | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -63.6% | -25.4% |
| % Gain to Breakeven | 174.5% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -49.5% | -33.9% |
| % Gain to Breakeven | 98.1% | 51.3% |
| Time to Breakeven | 75 days | 148 days |
| 2018 Correction | ||
| % Loss | -96.5% | -19.8% |
| % Gain to Breakeven | 2797.6% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -98.1% | -56.8% |
| % Gain to Breakeven | 5214.3% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to REGN, AMGN, COGT, INCY, KNSA
In The Past
Celldex Therapeutics's stock fell -63.6% during the 2022 Inflation Shock from a high on 10/4/2021. A -63.6% loss requires a 174.5% gain to breakeven.
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About Celldex Therapeutics (CLDX)
Celldex Therapeutics, Inc., a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory diseases and various forms of cancer. The company's clinical development programs CDX-0159, a Phase I monoclonal antibody that binds the receptor tyrosine kinase KIT and inhibits its activity; CDX-1140, a human agonist monoclonal antibody targeted to CD40, a key activator of immune response, which is found on dendritic cells, macrophages, and B cells, as well as is expressed on various cancer cells; and CDX-527, a bispecific antibody, which uses the company's proprietary active anti-PD-L1 and CD27 human antibodies to couple CD27 costimulation with blockade of the PD-L1/PD-1 pathway to help prime and activate anti-tumor T cell responses through CD27 costimulation. The company has research collaboration and license agreements with University of Southampton to develop human antibodies towards CD27; Amgen Inc. with exclusive rights to CDX-301 and CD40 ligand; and Yale University. Celldex Therapeutics, Inc. was incorporated in 1983 and is headquartered in Hampton, New Jersey.
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Celldex Therapeutics (CLDX) is:
- Like Moderna was before its COVID-19 vaccine success, but focused on developing novel treatments for cancer and inflammatory diseases instead of vaccines.
- An aspiring Vertex Pharmaceuticals, concentrating on developing cutting-edge immunotherapy treatments for cancer and autoimmune conditions.
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- Barzolvolimab (CDX-0159): A monoclonal antibody targeting KIT, currently in clinical development for various mast cell-driven diseases such as chronic urticaria and indolent systemic mastocytosis.
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Celldex Therapeutics (CLDX) - Major Customers
Celldex Therapeutics (CLDX) is a clinical-stage biopharmaceutical company focused on developing investigational therapies for difficult-to-treat diseases. As a company primarily engaged in research, development, and clinical trials of its drug candidates, it does not currently have commercial products on the market generating significant sales revenue from traditional "customers."
Therefore, Celldex Therapeutics does not have "major customers" in the sense of companies or individuals purchasing its commercial products.
Its business model at this stage primarily involves:
- Research and Development: Advancing its pipeline of drug candidates, such as barzolimab (CDX-0159).
- Clinical Trials: Conducting studies to evaluate the safety and efficacy of its therapies.
- Funding: Raising capital through equity offerings or potential strategic partnerships/collaborations to finance its development programs.
If and when Celldex Therapeutics successfully brings a product to market, its customers would typically be:
- Hospitals and Clinics: Healthcare institutions that purchase and administer specialized therapies.
- Specialty Pharmacies and Distributors: Companies responsible for the storage and distribution of complex biopharmaceutical products.
- Government Healthcare Programs: Entities that purchase drugs for public health initiatives or national healthcare systems.
However, these are potential future customer categories, not current major customers for product sales.
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Anthony S. Marucci, Founder, President, Chief Executive Officer and Director
Mr. Marucci was appointed President and Chief Executive Officer of Celldex in September 2008 and as a director in December 2008. He is also a co-founder of Celldex Therapeutics, which was founded in 1983. Prior to his CEO role, since May 2003, he held various positions at Celldex, including Vice President, Chief Financial Officer, Treasurer, and Secretary. Mr. Marucci served as Treasurer of Medarex, Inc. (now part of Bristol-Myers Squibb Co.) from December 1998 to March 2004, where he also held a series of senior financial positions. He was Interim President & Chief Executive Officer at AVANT Immunotherapeutics, Inc. in 2008. His background includes corporate finance, mergers and acquisitions, and strategic planning. He holds an M.B.A. from Columbia University and an M.H.L. from Brown University.
Sam Martin, Senior Vice President and Chief Financial Officer
Mr. Martin has served as Celldex Therapeutics' Senior Vice President and Chief Financial Officer since 2017.
Tibor Keler, Ph.D., Founder, Executive Vice President and Chief Scientific Officer
Dr. Keler is a co-founder of Celldex Therapeutics, established in 1983. He was appointed Executive Vice President and Chief Scientific Officer in 2014, having previously served as Senior Vice President of Research and Discovery at Celldex. From September 1993 to March 2004, Dr. Keler was Senior Director of Preclinical Development and Principal Scientist at Medarex (now part of Bristol-Myers Squibb Co.), where he was responsible for the preclinical development of several clinical product candidates, including ipilimumab. He has been instrumental in the development of Celldex's core technology and related products. Dr. Keler received his Ph.D. in Microbiology from the University of Pennsylvania.
Elizabeth Crowley, Senior Vice President, Chief Product Development Officer
Ms. Crowley joined Celldex in 2009 as Vice President, Clinical Development, and was subsequently promoted to Senior Vice President, Product Development, and then to Senior Vice President, Chief Product Development Officer. Before Celldex, she held several senior-level roles at CuraGen Corporation from 2005 to October 2009, including Vice President of Development Operations. She began her career at Bayer Corporation in 1992, where she held various leadership positions in clinical research and project management, concluding her tenure as Director of Global Study Audit Management. Ms. Crowley holds a B.S. in Chemistry from Boston College.
Diane C. Young, M.D., Senior Vice President and Chief Medical Officer
Dr. Young joined Celldex in July 2019 as Senior Vice President and Chief Medical Officer. Prior to Celldex, she served as Chief Medical Officer of GTx, Inc., a public biopharmaceutical company. She also spent 13 years at Novartis Oncology in senior leadership roles in global clinical development and medical affairs, where she directed clinical programs that led to successful regulatory approvals for multiple drugs, including EXJADE®, GLIVEC®, FEMARA®, AFINITOR®, RYDAPT®, JAKAVI® and FARIDAK®. Dr. Young is a board-certified medical oncologist with over 30 years of experience in the pharmaceutical industry.
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Key Risks to Celldex Therapeutics (CLDX)
Celldex Therapeutics, a clinical-stage biopharmaceutical company, faces several significant risks inherent to its industry and operational stage. The most prominent risks revolve around the outcomes of its clinical trials, its financial sustainability, and the competitive landscape for its potential products.- Clinical Trial Outcomes and Regulatory Approval: As a company focused on developing therapeutic antibodies, Celldex's future largely hinges on the successful completion of its clinical trials, particularly for its lead candidate, barzolvolimab. Negative results, unforeseen safety concerns, or delays in late-stage trials for indications like chronic spontaneous urticaria (CSU) or cold urticaria could severely impact the company's valuation and prospects. Furthermore, even with positive trial data, there is no guarantee of obtaining regulatory approval from agencies like the FDA, which can be a lengthy and rigorous process.
- Financial Condition, Cash Burn, and Need for Additional Capital: Celldex is currently operating at a loss, with significant cash burn to fund its research and development and ongoing clinical trials. While the company has reported a strong cash position that is expected to support operations for several years, there is a risk of needing to raise additional capital through equity offerings or debt if key milestones are not met or if expenses outpace projections. Such capital raises could dilute the ownership of existing shareholders.
- Competitive Dynamics: The therapeutic areas Celldex is targeting, such as immune disorders, are characterized by existing treatments and a pipeline of new drugs from competitors. The potential market share and pricing power of Celldex's product candidates, if approved, could be limited by established therapies (e.g., omalizumab for urticaria) and other novel oral or biologic drugs in development.
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The primary clear emerging threat for Celldex Therapeutics revolves around intensifying competition in the therapeutic areas targeted by its lead candidate, Barzolvolimab (CDX-0159), particularly in Chronic Spontaneous Urticaria (CSU) and Prurigo Nodularis (PN).
Several well-funded pharmaceutical companies are developing or have already launched products that could significantly impact Barzolvolimab's market potential:
- Dupilumab (Dupixent) from Sanofi/Regeneron: This drug is already approved for Prurigo Nodularis, which is one of Barzolvolimab's target indications. Dupixent also has a strong established market presence in other related atopic diseases and is in development for CSU. Its existing market penetration and broad label could present a formidable challenge to Barzolvolimab's potential market share in both PN and CSU.
- Oral Bruton's Tyrosine Kinase (BTK) inhibitors (e.g., fenebrutinib from Roche/Genentech, remibrutinib from Novartis): Several oral BTK inhibitors are in late-stage clinical development for CSU. The convenience of an oral administration route, compared to Barzolvolimab's injectable delivery, could provide a significant competitive advantage and potentially limit Barzolvolimab's market adoption, even if efficacy profiles are similar.
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Celldex Therapeutics (symbol: CLDX) is primarily focused on developing Barzolvolimab (CDX-0159), a humanized monoclonal antibody that targets the KIT receptor, for several mast cell-mediated diseases.
Here are the addressable markets for its main product indications:
- Chronic Spontaneous Urticaria (CSU): The global market for chronic spontaneous urticaria was valued at approximately USD 823.4 million in 2024 and is anticipated to reach USD 1,664.9 million by 2032. The market across the 7 major markets (US, EU4, UK, and Japan) was approximately USD 2.17 billion in 2023. The US market for CSU was approximately USD 1.19 billion in 2023.
- Chronic Inducible Urticaria (CIndU): The global chronic inducible urticaria market is projected to grow from USD 1.9 billion in 2024 to USD 4.6 billion in 2034.
- Eosinophilic Esophagitis (EoE): The global eosinophilic esophagitis market was valued at USD 366.2 million in 2024 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 31.4% from 2025 to 2034. The US market for eosinophilic esophagitis is forecast to grow from $202 million in 2020 to $1.19 billion by 2030. (Note: Celldex recently terminated development for Barzolvolimab in EoE.)
- Atopic Dermatitis (AD): The global atopic dermatitis drugs market size was estimated at USD 17.64 billion in 2024 and is projected to reach USD 29.88 billion by 2030. The market across the top 7 markets (US, EU4, UK, and Japan) reached a value of USD 18,076.40 million in 2024 and is expected to reach USD 40,234.20 million by 2035.
- Prurigo Nodularis (PN): null
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Celldex Therapeutics (NASDAQ: CLDX) anticipates several key drivers for future revenue growth over the next two to three years, primarily centered around its lead pipeline candidate, barzolvolimab, and the advancement of its other clinical programs. Here are the expected drivers of future revenue growth: * Commercialization of Barzolvolimab in Chronic Spontaneous Urticaria (CSU): Barzolvolimab, a humanized monoclonal antibody targeting the KIT receptor, is Celldex's primary revenue growth driver. The company is currently conducting two Phase 3 trials (EMBARQ-CSU1 and EMBARQ-CSU2) for chronic spontaneous urticaria, with full enrollment anticipated by mid-2026 and topline results expected around the same time. If approved, barzolvolimab could potentially be the first once-quarterly KIT inhibitor in the CSU market, which is estimated to be worth over $2 billion annually, positioning it for significant peak annual sales. * Expansion of Barzolvolimab to Additional Mast Cell-Driven Indications: Beyond CSU, Celldex is exploring barzolvolimab's potential in other mast cell-mediated inflammatory conditions. A Phase 3 program for Chronic Inducible Urticaria (CIndU) is expected to commence in the second half of 2025, building on promising Phase 2 results. Additionally, Phase 2 data for eosinophilic esophagitis (EoE) is anticipated in the second half of 2025, and enrollment is ongoing for studies in prurigo nodularis (PN) and atopic dermatitis (AD). Successful clinical development and potential approval in these indications would significantly broaden barzolvolimab's market reach and revenue potential. * Advancement of the CDX-622 Bispecific Antibody Program: Celldex is also developing CDX-622, a bispecific antibody designed to neutralize TSLP and inhibit mast cell activity. Initial Phase 1 data in healthy volunteers is expected in the second half of 2025. While material revenue from CDX-622 is not anticipated before 2030, positive early results could validate its mechanism and attract strategic partnerships, potentially signaling future commercialization in inflammatory diseases like asthma and diversifying Celldex's pipeline.AI Analysis | Feedback
Share Issuance
- In June 2020, Celldex Therapeutics completed an underwritten public offering, issuing 15,384,614 shares of common stock at $9.75 per share, resulting in gross proceeds of approximately $150.0 million.
- In July 2021, the company closed an underwritten public offering of 6,845,238 shares of common stock at $42.00 per share, generating gross proceeds of approximately $287.5 million.
- In March 2024, Celldex completed an underwritten public offering of 9,798,000 shares of common stock at $47.00 per share, raising approximately $460.5 million in gross proceeds.
Inbound Investments
- In March 2020, Celldex Therapeutics received a $1.7 million milestone payment from Rockefeller University. This payment was related to an existing 2013 agreement following Gilead Sciences' licensing of an HIV antibody portfolio from Rockefeller University, for which Celldex had provided manufacturing and development services.
- Celldex's total revenue for 2024 was $3.0 million, primarily derived from collaborations.
Capital Expenditures
- Celldex Therapeutics reported capital expenditures of $2 million in 2020, $1 million in 2021, $2 million in 2022, $2 million in 2023, and $2 million in 2024.
- The company's projected capital expenditures are $3 million for 2025 and are expected to remain at $3 million annually through 2029.
- Capital expenditures primarily support the company's research and development activities and its efforts to advance its pipeline of therapeutic antibodies for inflammatory, allergic, autoimmune, and other diseases.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 72.00 |
| Mkt Cap | 12.3 |
| Rev LTM | 2,671 |
| Op Inc LTM | 630 |
| FCF LTM | 619 |
| FCF 3Y Avg | 316 |
| CFO LTM | 659 |
| CFO 3Y Avg | 354 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.6% |
| Rev Chg 3Y Avg | 13.1% |
| Rev Chg Q | 12.4% |
| QoQ Delta Rev Chg LTM | 3.0% |
| Op Mgn LTM | 24.1% |
| Op Mgn 3Y Avg | 13.8% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 26.0% |
| CFO/Rev 3Y Avg | 15.3% |
| FCF/Rev LTM | 24.4% |
| FCF/Rev 3Y Avg | 13.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 12.3 |
| P/S | 5.4 |
| P/EBIT | 13.6 |
| P/E | 16.6 |
| P/CFO | 14.6 |
| Total Yield | 3.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.0% |
| D/E | 0.0 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.0% |
| 3M Rtn | 14.6% |
| 6M Rtn | 32.7% |
| 12M Rtn | 29.3% |
| 3Y Rtn | 35.5% |
| 1M Excs Rtn | -1.7% |
| 3M Excs Rtn | 14.9% |
| 6M Excs Rtn | 25.5% |
| 12M Excs Rtn | 15.6% |
| 3Y Excs Rtn | -40.6% |
Price Behavior
Price Behavior
| Market Price | $24.60 | |
| Market Cap ($ Bil) | 1.6 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -17.4% | |
| 50 Days | 200 Days | |
| DMA Price | $26.56 | $23.64 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -7.4% | 4.1% |
| 3M | 1YR | |
| Volatility | 49.5% | 58.6% |
| Downside Capture | 112.01 | 147.04 |
| Upside Capture | 53.91 | 125.36 |
| Correlation (SPY) | 21.8% | 35.3% |
CLDX Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.67 | 1.05 | 0.97 | 1.35 | 1.07 | 1.04 |
| Up Beta | 6.71 | 2.59 | 1.57 | 1.58 | 1.00 | 1.00 |
| Down Beta | 0.26 | 0.14 | 0.86 | 0.65 | 0.70 | 1.11 |
| Up Capture | -144% | 87% | 52% | 165% | 154% | 54% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 8 | 18 | 27 | 60 | 114 | 346 |
| Down Capture | 55% | 167% | 111% | 156% | 128% | 106% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 12 | 23 | 34 | 65 | 136 | 405 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CLDX | |
|---|---|---|---|---|
| CLDX | 1.6% | 58.3% | 0.24 | - |
| Sector ETF (XLV) | 7.7% | 17.2% | 0.27 | 37.7% |
| Equity (SPY) | 16.1% | 19.2% | 0.65 | 35.1% |
| Gold (GLD) | 76.5% | 23.4% | 2.38 | -6.4% |
| Commodities (DBC) | 11.1% | 15.9% | 0.48 | 0.2% |
| Real Estate (VNQ) | 5.3% | 16.5% | 0.14 | 28.9% |
| Bitcoin (BTCUSD) | -18.9% | 39.9% | -0.43 | 23.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CLDX | |
|---|---|---|---|---|
| CLDX | 6.6% | 59.8% | 0.35 | - |
| Sector ETF (XLV) | 7.1% | 14.5% | 0.31 | 31.9% |
| Equity (SPY) | 14.0% | 17.1% | 0.65 | 35.9% |
| Gold (GLD) | 20.8% | 16.5% | 1.03 | 0.9% |
| Commodities (DBC) | 12.2% | 18.8% | 0.53 | 4.7% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 31.8% |
| Bitcoin (BTCUSD) | 21.1% | 57.5% | 0.56 | 19.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CLDX | |
|---|---|---|---|---|
| CLDX | -17.1% | 80.7% | 0.14 | - |
| Sector ETF (XLV) | 10.4% | 16.6% | 0.52 | 22.0% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 22.5% |
| Gold (GLD) | 15.6% | 15.3% | 0.85 | 0.1% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 5.6% |
| Real Estate (VNQ) | 5.9% | 20.8% | 0.25 | 15.7% |
| Bitcoin (BTCUSD) | 71.5% | 66.4% | 1.11 | 9.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/10/2025 | 7.5% | 14.7% | 23.2% |
| 8/7/2025 | -2.6% | 17.6% | 10.3% |
| 5/8/2025 | -6.1% | 3.0% | 6.1% |
| 2/27/2025 | 1.3% | 5.0% | -1.9% |
| 11/6/2024 | -4.2% | -2.9% | -3.1% |
| 8/8/2024 | 0.6% | 1.2% | 29.3% |
| 5/6/2024 | 1.3% | -3.7% | -20.7% |
| 2/26/2024 | 27.8% | 37.4% | 9.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 13 |
| # Negative | 8 | 8 | 7 |
| Median Positive | 6.6% | 5.5% | 14.0% |
| Median Negative | -3.9% | -3.4% | -12.7% |
| Max Positive | 27.8% | 37.4% | 51.3% |
| Max Negative | -6.1% | -12.0% | -20.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Jimenez, Freddy A | SVP & GENERAL COUNSEL | Direct | Sell | 12082025 | 29.09 | 4,166 | 121,210 | 896,010 | Form |
| 2 | Wright, Richard M | Direct | Sell | 11172025 | 24.00 | 49,298 | 1,183,177 | 500,002 | Form | |
| 3 | Jimenez, Freddy A | SVP & GENERAL COUNSEL | Direct | Sell | 8152025 | 24.77 | 771 | 19,096 | 865,929 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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