Celldex Therapeutics, Inc.
CLDX evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for CLDX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CLDX
Celldex Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for inflammatory diseases and cancer, with its lead candidate barzolvolimab in Phase 3 trials for chronic urticaria.
Key risk: No approved products
BioSniper Score
Based on 5 of 6 signals
Market Cap
$3.07B
Cash Runway
35.9 moLead Asset
barzolvolimab (Phase 3)Next Catalyst
Phase3_Topline · Apr 1, 2027Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 9 clinical trials · 3 catalysts for Celldex Therapeutics, Inc..
Celldex Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for inflammatory diseases and cancer, with its lead candidate barzolvolimab in Phase 3 trials for chronic urticaria.
- Lead drug candidate barzolvolimab is in Phase 3 clinical trials for chronic urticaria, with topline data expected in 2027 and 2028 [sec_mda · as of 2026-08-06].
- Cash, cash equivalents and marketable securities totaled $717.6 million as of June 30, 2026, providing expected funding through 2028 [sec_mda · as of 2026-08-06].
- The company has incurred recurring losses, with a net loss of $73.5 million for the three months ended June 30, 2026 [latest reported financials].
- Celldex has no approved products and has historically relied on collaborative partner payments and government contracts for cash flows from operations [sec_mda · as of 2026-08-06].
What works
- Strong cash position of $717.6 million as of June 30, 2026, expected to fund operations through 2028 [sec_mda · as of 2026-08-06].
- Barzolvolimab is advancing in Phase 3 trials for chronic urticaria, a large market opportunity with multiple upcoming data readouts [sec_mda · as of 2026-08-06].
- The company maintains a broad portfolio strategy to diversify risk across multiple drug candidates [sec_mda · as of 2026-02-25].
What to weigh
- Celldex has no approved products and has incurred recurring losses, with a net loss of $73.5 million in the latest quarter [latest reported financials].
- Operating cash burn is increasing as barzolvolimab development expands, with net cash used in operations of $65.6 million in Q1 2026 [sec_mda · as of 2026-05-07].
- Future milestone payments under the Settlement Agreement with SRS could require significant cash outflows, potentially impacting liquidity [sec_mda · as of 2026-05-07].
- The company may need to raise additional capital to meet long-term liquidity needs, which could dilute existing shareholders or impose restrictive covenants [sec_mda · as of 2026-05-07].
From the filings
Quoted directly from source documents.
Cash position as of June 30, 2026
“At June 30, 2026, our principal sources of liquidity consisted of cash, cash equivalents and marketable securities of $717.6 million.”
SEC MD&A · August 6, 2026
Cash runway through 2028
“We believe that the cash, cash equivalents and marketable securities at March 31, 2026, along with the approximately $323.9 million in net proceeds from our April 2026 underwritten public offering, are sufficient to meet estimated working capital requirements and fund current planned operations through 2028.”
SEC MD&A · May 7, 2026
Reliance on external funding sources
“To date, the primary sources of cash flows from operations have been payments received from our collaborative partners and from government entities and payments received for contract manufacturing and research and development services provided by us.”
SEC MD&A · August 6, 2026
Catalyst timeline
- 2027-04-01 · Phase3_Topline — Topline data from a Phase 3 randomized, double-blind, placebo-controlled study of barzolvolimab in chronic urticaria.
- 2028-09-01 · Phase3_Topline · barzolvolimab — Topline data from a Phase 3b long-term efficacy and safety extension study of barzolvolimab.
- 2028-10-01 · Phase3_Topline · barzolvolimab — Topline data from a Phase 3 randomized, double-blind, placebo-controlled, multi-center study of barzolvolimab.
Risks & what to watch (4)›
Key risks
- No approved products — Celldex has no marketed products and depends entirely on the successful development and regulatory approval of its pipeline [sec_mda · as of 2026-08-06].
- Clinical trial risks — Barzolvolimab Phase 3 trials may fail to meet endpoints, delaying or preventing approval [sec_mda · as of 2026-02-25].
- Liquidity and capital needs — Increasing operating cash burn may require additional financing, which could be dilutive or on unfavorable terms [sec_mda · as of 2026-05-07].
- Milestone payment obligation — A future milestone under the Settlement Agreement with SRS could require significant cash outlay [sec_mda · as of 2026-05-07].
What to watch
- Phase 3 topline data for barzolvolimab in chronic urticaria expected in 2027 and 2028 [catalyst_timeline].
- Cash burn rate and any updates on operating expenses as development expands [sec_mda · as of 2026-08-06].
- Potential milestone achievement under the Settlement Agreement with SRS and its payment method [sec_mda · as of 2026-05-07].
- Any new partnership, licensing, or financing activities to support long-term liquidity [sec_mda · as of 2026-05-07].
Sources: SEC filings · SEC MD&A · Generated August 25, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
35.9 months
D/E 0.09 · 0% dilution
Lead: Phase 3
2 candidates
3 upcoming, next in ~214d
No insider transactions in the last 180 days
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
228
Total value held
$2.03B
| Holder | Shares | Value |
|---|---|---|
| wellington management group llp | 8,560,476 | $271.5M |
| vanguard capital management llc | 5,921,790 | $187.8M |
| blackrock, inc. | 5,369,885 | $170.3M |
| fmr llc | 3,749,048 | $118.9M |
| state street corp | 2,804,168 | $88.9M |
| commodore capital lp | 2,696,616 | $85.5M |
| geode capital management, llc | 1,688,074 | $53.6M |
| braidwell lp | 1,356,082 | $43.0M |
| deep track capital, lp | 1,283,979 | $40.7M |
| millennium management llc | 1,253,532 | $39.8M |
Showing top 10 of 228 institutional holders of Celldex Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 11.5%
- Days to cover
- 6.7
- Shares short
- 7,599,353
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CLDX short interestGovernance
Frequently asked questions
What is the AI investment thesis for Celldex Therapeutics, Inc.?
Celldex Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for inflammatory diseases and cancer, with its lead candidate barzolvolimab in Phase 3 trials for chronic urticaria.
What is Celldex Therapeutics, Inc.'s lead drug candidate?
Celldex Therapeutics, Inc.'s most advanced tracked candidate is barzolvolimab (Phase 3) for Prurigo Nodularis; Chronic Spontaneous Urticaria; Eosinophilic Esophagitis.
What is Celldex Therapeutics, Inc.'s next catalyst?
Celldex Therapeutics, Inc.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: A Phase 3 Randomized, Double-Blind, Placebo-Controlled Study to Assess the Efficacy and Safety of Ba" — expected April 1, 2027.
Who is the CEO of Celldex Therapeutics, Inc.?
Mr. Anthony S. Marucci M.B.A. is the chief executive officer of Celldex Therapeutics, Inc. (CLDX).
Where is Celldex Therapeutics, Inc. headquartered?
Celldex Therapeutics, Inc. (CLDX) is headquartered in Hampton, NJ, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.