Celldex Launches Stock Offering with 15% Overallotment Option
Celldex Therapeutics commenced an underwritten public offering of its common stock with underwriters’ 30-day option to buy up to 15% additional shares. Proceeds will fund barzolvolimab’s U.S. CSU launch readiness, advance clinical and preclinical programs, expand the bispecific antibody platform and support general corporate purposes.
1. Offering Structure
Celldex Therapeutics has commenced an underwritten public offering of its common stock and granted underwriters a 30-day option to purchase up to an additional 15% of offered shares. Final offering terms, including share count and pricing, will depend on market conditions at pricing.
2. Planned Use of Proceeds
Net proceeds, together with existing cash and marketable securities, are earmarked for barzolvolimab’s U.S. chronic spontaneous urticaria launch readiness if approved, continued clinical and preclinical development of pipeline candidates, expansion of its bispecific antibody platform and general corporate purposes.
3. Underwriting and Registration
Leerink Partners and TD Cowen serve as joint bookrunning managers for the offering. Securities will be offered under a shelf registration statement on Form S-3 that became effective on November 3, 2023, with final terms to be detailed in a prospectus supplement filed with the Securities and Exchange Commission.