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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.
Celldex
Celldex
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