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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS Miss -$1.01 -$0.90

(13

Analysts

)

Q3 Net Miss -$67.04 -$60.80

Income mln mln (8

Analysts

)

Q3 $73.62

Operatin mln

g

Expenses

Q3 -$73.62

Operatin mln

g Income

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 ( CLDX ) is $53.00, about 56.8% above its November 7 closing price of $22.90

Press Release:

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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.)