Celldex Therapeutics priced a $300 million public offering of 10,345,000 shares of its common stock at $29.00 per share, with an option for underwriters to purchase an additional 1,551,750 shares at the same price. The offering is expected to close on or about April 6, 2026, and will generate approximately $282 million in net proceeds after underwriting discounts and commissions.
The capital raised will fund commercial readiness activities for barzolvolimab, a humanized monoclonal antibody targeting the KIT receptor for chronic spontaneous urticaria, and will support ongoing Phase 3 trials, other pipeline candidates, and the expansion of Celldex’s bispecific antibody platform. General corporate purposes will also be covered.
Celldex’s balance sheet shows $518.6 million in cash, cash equivalents, and marketable securities as of December 31, 2025, which the company says will support operations through 2027. The company reported a net loss of $258.8 million for the year ended December 31, 2025, underscoring the need for additional capital to sustain development and commercialization plans.
The issuance of new shares will dilute existing shareholders, but the infusion is intended to extend the company’s runway and accelerate progress toward a potential U.S. launch of barzolvolimab, addressing an unmet need in chronic spontaneous urticaria and related conditions.
The offering reflects investor confidence in Celldex’s pipeline, particularly barzolvolimab’s Phase 3 program, and positions the company to capitalize on a market that currently lacks advanced therapies beyond antihistamines.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.