Celldex Raises $345M and Completes Phase 3 CSU Enrollment Six Months Early
Celldex completed enrollment of 1,939 patients in its global Phase 3 CSU program six months ahead of guidance and anticipates topline data in Q4 2026 with a planned BLA submission in 2027. The company closed a follow-on public offering in April 2026, raising $345 million to fund pipeline advancement and commercialization preparations.
1. Corporate Update and Financing
For the quarter ended March 31, 2026, Celldex reported continued pipeline progress and strengthened its balance sheet by raising $345 million in a follow-on public offering closed in April 2026. This financing will support ongoing commercialization preparations, Phase 3 enrolment and multiple forthcoming data readouts across its development programs.
2. Phase 3 Chronic Spontaneous Urticaria Progress
The global Phase 3 EMBARQ-CSU1 and EMBARQ-CSU2 trials enrolled 1,939 antihistamine-refractory CSU patients across 43 countries and over 500 sites, completing recruitment six months ahead of schedule. Topline data are expected in Q4 2026, paving the way for a biologics license application submission in 2027.
3. Ongoing and Upcoming Pipeline Milestones
Enrollment is actively progressing in the Phase 3 cold urticaria and symptomatic dermographism program, while Phase 2 studies in prurigo nodularis and atopic dermatitis have completed enrollment with topline data due in summer and late 2026, respectively. Additionally, the Phase 1 CDX-622 bispecific SCF/TSLP antibody proof-of-mechanism study in asthma remains ongoing.