Loading...
•
Dec 31, 2024
Celldex Q4 2024 Earnings Report
Celldex reported its financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
Celldex Therapeutics reported a decrease in total revenues for Q4 2024 compared to Q4 2023, primarily due to a decrease in services performed under manufacturing and research and development agreements. The company experienced an increase in R&D and G&A expenses, leading to a higher net loss for the quarter.
Total revenues for Q4 2024 were $1.2 million, down from $4.1 million in Q4 2023.
Net loss for Q4 2024 was $47.1 million, or ($0.71) per share, compared to a net loss of $43.3 million, or ($0.83) per share, for Q4 2023.
Research and development expenses increased to $46.9 million in Q4 2024 from $30.4 million in Q4 2023.
Cash, cash equivalents, and marketable securities stood at $725.3 million as of December 31, 2024.
Celldex
Celldex
Celldex Revenue by Segment
Revenue by Segment
Product Development & Licensing Revenue
CapyFin.comContracts and Grants Revenue
CapyFin.com Forward Guidance
Celldex believes its current cash, cash equivalents, and marketable securities are sufficient to fund planned operations through 2027.
Positive Outlook
- Sufficient cash position to fund operations through 2027.
- Enrollment ongoing in Phase 3 barzolvolimab CSU studies.
- Phase 3 program in CIndU under development.
- Phase 2 barzolvolimab EOE study fully accrued, with data expected in 2025.
- Initiation of Phase 1 study for CDX-622, a first bispecific for inflammatory diseases.
Challenges Ahead
- Uncertainties inherent in clinical testing and patient accrual for trials.
- Limited experience in bringing programs through Phase 3 clinical trials.
- Risks related to the availability, cost, delivery, and quality of clinical materials.
- Uncertainty of obtaining regulatory approvals.
- Potential failure of the market for the Company's programs to continue to develop.