Clinical-stage biotech Celldex's Q3 net loss widens to $67 mln

Overview

• Celldex Q3 net loss widens to $67 mln, below analysts' expectations

• Company reports zero revenue in Q3, down from $3.2 mln in prior year

• Positive Phase 2 data for barzolvolimab in multiple indications

Outlook

• Celldex plans to initiate a global Phase 3 study for ColdU and SD in December 2025

• Celldex expects multiple data readouts throughout 2026

• Celldex's cash reserves are expected to fund operations through 2027

Result Drivers

• REVENUE - Revenue fell primarily due to a decrease in services performed under Celldex's manufacturing and research and development agreements with Rockefeller University

• R&D - R&D expenses rose to $62.9 mln from $45.3 mln due to an increase in barzolvolimab clinical trial, barzolvolimab contract manufacturing and personnel expenses.

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Celldex Therapeutics Inc is $53.00, about 56.8% above its November 7 closing price of $22.90

Press Release: ID:nGNXd4FqM

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)