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Sep 30, 2022
Celldex Q3 2022 Earnings Report
Reported financial results and provided a corporate update for Q3 2022.
Key Takeaways
Celldex reported its Q3 2022 financial results, highlighting progress across multiple programs, including the initiation of Phase 2 studies for barzolvolimab in chronic urticaria. The company anticipates data readouts from the barzolvolimab program starting in December and is advancing its bispecific antibody platform with CDX-585 expected to enter the clinic in 2023. Celldex believes its cash is sufficient to fund operations through 2025.
Initiated Phase 2 studies in chronic spontaneous and chronic inducible urticaria.
Anticipate a consistent stream of data readouts from the barzolvolimab program, starting in December.
CDX-585, an ILT4 and PD-(L)1 bispecific antibody, is expected to enter the clinic in 2023.
Cash, cash equivalents and marketable securities as of September 30, 2022 were $323.5 million.
Forward Guidance
Celldex believes that the cash, cash equivalents and marketable securities at September 30, 2022 are sufficient to meet estimated working capital requirements and fund planned operations through 2025.
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