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Mar 31, 2023
Celldex Q1 2023 Earnings Report
Reported financial results for the first quarter ended March 31, 2023 and provided a corporate update.
Key Takeaways
Celldex reported a total revenue of $1.0 million for the first quarter of 2023, primarily driven by an increase in services performed under the agreement with Rockefeller University. The net loss for the quarter was $29.4 million, or ($0.62) per share. Cash, cash equivalents, and marketable securities totaled $278.4 million as of March 31, 2023.
Phase 2 CSU enrollment completion is expected in Q3 2023.
Phase 1b CSU study and Phase 1 cholinergic cohort were both accepted for oral presentation at EAACI 2023.
Phase 2 EoE study is expected to initiate in June 2023.
Cash, cash equivalents and marketable securities were $278.4 million as of March 31, 2023.
Forward Guidance
Celldex believes that its current cash, cash equivalents, and marketable securities are sufficient to fund planned operations through 2025.
Positive Outlook
- Ongoing Phase 1b studies in urticaria
- Ongoing Phase 1b studies in prurigo nodularis
- Ongoing Phase 2 studies in CSU
- Planned Phase 2 studies in CIndU
- Planned Phase 2 studies in EoE
Historical Earnings Impact
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Avg. Return Before/After Earnings
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