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Mar 31, 2020
Celldex Q1 2020 Earnings Report
Reported business and financial highlights.
Key Takeaways
Celldex Therapeutics reported its Q1 2020 results, highlighting progress in advancing their pipeline despite challenges from the COVID-19 pandemic. Key developments include completing enrollment in the Phase 1 study of CDX-0159 and preparing to advance CDX-527 into a Phase 1 study. The company's cash position remains strong enough to fund operations into the second quarter of 2021.
Completed enrollment and treatment in Phase 1 study of CDX-0159 for mast cell driven disorders.
Preparing to initiate Phase 1 study of CDX-527 in refractory, advanced cancers in the second half of 2020.
Continued enrollment in ongoing studies of CDX-1140 and CDX-3379 with data updates planned for later in the year.
Cash, cash equivalents, and marketable securities totaled $53.7 million as of March 31, 2020.
Forward Guidance
Celldex believes that the cash, cash equivalents and marketable securities at March 31, 2020 are sufficient to meet estimated working capital requirements and fund planned operations into the second quarter of 2021. This guidance excludes anticipated proceeds from future sales of common stock under the Cantor agreement or other potential fundraising.
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