Celldex Q2 net loss widens on higher R&D, G&A expenses
CLDX•Cash position and analyst view
- Celldex says cash, equivalents and securities are sufficient to fund operations through 2028
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 1 "hold" and no "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 $56.00, about 36.4% above its August 5 closing price of $41.06
Outlook for barzolvolimab programs
- Celldex expects topline Phase 3 barzolvolimab CSU data in Sept./Oct. 2026, with a BLA filing in 2027
- Company sees topline Phase 2 atopic dermatitis data in late 2026
Quarterly results and cost drivers
- US biotech firm's Q2 net loss and loss per share both beat analyst expectations
- No material revenue recognized in Q2, down from prior year due to fewer R&D agreements
- R&D and G&A expenses rose on higher clinical trial and commercial planning costs
Celldex said higher R&D expenses were driven by increased barzolvolimab clinical trial and manufacturing costs. Higher G&A expenses were due to increased barzolvolimab commercial planning.
The company discontinued a Phase 2 prurigo nodularis study after failing to meet endpoints, saying mast cells may not be the key driver.
