Celldex Q1 net loss widens on lower services performed for Rockefeller University

Celldex Therapeutics

07/05/2026 21:45

Overview

US immunology drug developer's Q1net loss widens to $78.69 mln from $53.80 mln

Q1 revenue fell to near zero, reflecting lower R&D agreement services

Company raised $345 mln in public offering to fund clinical pipeline

Outlook

Celldex expects topline Phase 3 barzolvolimab CSU data in Q4 2026

Company anticipates multiple key data readouts across its pipeline in 2026

Celldex says cash position sufficient to fund planned operations through 2028

Result Drivers

R&D AGREEMENT REVENUE DROP - Revenue fell due to decreased services under manufacturing and R&D agreements with Rockefeller University

BARZOLVOLIMAB TRIAL COSTS - Higher R&D expenses driven by increased barzolvolimab clinical trial and contract manufacturing costs, and increased headcount

COMMERCIAL PLANNING SPEND - G&A expenses rose mainly due to increased barzolvolimab commercial planning costs

Company press release: ID:nGNX4yWX6q

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$15,000
Q1 EPS
Miss
-$1.18
-$1.14 (13 Analysts)
Q1 Net Income
Miss
-$78.69 mln
-$76.62 mln (10 Analysts)
Q1 Operating Expenses
$84.45 mln
Q1 Operating Income
-$84.44 mln


Analyst Coverage

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 $48.00, about 39.6% above its May 6 closing price of $34.39

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)