Celldex Therapeutics slips on $300 mln share sale

Toronto-Dominion Bank

02/04/2026 12:27

** Celldex Therapeutics' CLDX.O shares down 3.6% in premarket trading to $30.15 after $300 mln overnight follow-on priced

** Hampton, New Jersey-based biotech late Weds sold ~10.3 mln shares at $29, a 7.2% discount to last sale

** CLDX intends to use net offering proceeds to fund commercial readiness activities and launch of barzolvolimab, if approved, for treatment of Chronic Spontaneous Urticaria (CSU) in the U.S., fund other product candidates, grow its bispecific antibody platform, among other purposes

** CSU is a condition characterized by chronic, itchy hives and swelling

** Leerink Partners and TD Cowen, Guggenheim and Cantor Fitzgerald joint bookrunners for offering

** CLDX has ~66.6 mln shares outstanding

** Through Weds close, shares up 15% YTD and ~85% over the past 12 months

** 14 of 16 analysts covering the stock rate it "strong buy" or "buy", 1 "hold" and 1 "sell"; median PT $48, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))