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Jun 30, 2020
Celldex Q2 2020 Earnings Report
Reported business and financial highlights.
Key Takeaways
Celldex reported a net loss of $11.0 million, or ($0.50) per share, for the second quarter of 2020. The company's cash, cash equivalents, and marketable securities totaled $206.9 million as of June 30, 2020, which they believe is sufficient to fund operations through 2023. They are discontinuing development of CDX-3379.
Presented data from KIT inhibitor, CDX-0159, suggesting significant potential to impact mast cell driven disorders.
Completed a $150 million public offering to fully fund planned operations through 2023.
Planning to initiate two studies in chronic urticaria later this year and are vetting additional mast cell driven indications to support expanded development in 2021.
Prioritized the development of CDX-0159, CDX-1140, and CDX-527.
Forward Guidance
Celldex believes that the cash, cash equivalents and marketable securities at June 30, 2020 are sufficient to meet estimated working capital requirements and fund planned operations through 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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